Comprehensive permit approved and secured to build 20 net new rental units under chapter 40b. Rental units approved as 12 x 1 bedroom units, 6 x 2 bedroom units, 2 x 3 bedroom units Projected rents/monthly/annual income: pro forma included in attached sales deck. Listing price Includes existing 4 bed single family home that resides on the land, which is rented out to stable long tenured tenant - generating $3,400 monthly rent. Buyer will work with already paid 40b consultant to finalize state approval. To finalize Buyer will need to secure financing. Building permit is waiting for new buyer to complete, with all documentation submitted and approved by the town. Hard costs based on actual bids which will be shared with prospective buyer(s). Possible condo conversion available / multiple exit strategies.
Lot Description:
Level, Corner Lot, Cleared
Amenities:
Public Transportation, Shopping, Golf, Highway Access, House of Worship, Public School
52 Plain St, Pembroke, MA, 02359
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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