Rare development opportunity in the heart of Newton Highlands Village, just steps to local shops, restaurants, and the MBTA Green Line. This property at 1629 Centre Street sits on approximately 7,808 sq ft of land within Newton’s newly adopted VC2 Village Center zoning district, which encourages higher-density village housing through reduced setbacks, increased lot coverage, and building heights of up to approximately 3.5 stories. The property is being offered primarily as a development opportunity, with zoning that allows multifamily housing by right without the need for a special permit, making it an attractive project for builders and developers seeking to take advantage of Newton’s new Village Center zoning. While the existing two-family home may offer value as an investment property, the highest and best use may be redevelopment. Additional value may be realized when combined with the adjacent parcel located at 1623-1625 St. (currently listed in MLS), creating a rare assemblage.
1208 Walnut St, Newton, (Newton Highlands), MA, 02461
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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