Prime Mixed-Use Investment Opportunity! 704-708 Sumner Ave offers a unique opportunity to own a mixed-use property with both commercial and residential income potential. The street-level commercial space features excellent frontage, prominent signage, multiple offices, reception and waiting areas, making it ideal for professional, medical, retail, or service-based businesses. Above, residential apartments provide additional income and long-term investment value. The property offers off-street parking, separate utilities, multiple electrical panels, 15 year old roof and a flexible layout suited for owner-occupants and investors alike. Earning $4,700 per month rental income, there is room to increase rents to market rent. Its classic brick exterior provides timeless curb appeal while its high-traffic location ensures outstanding visibility. Conveniently located near Forest Park, MGM Springfield, downtown Springfield, & major highways including I-91 & the MA Turnpike.
704-708 Sumneravenue, Springfield, MA, 01108
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.
CT Mortgage Lender ML-2630 - MA Mortgage Lender and Mortgage Broker #MC2630 - NH Mortgage Banker #11083-MB - RI Mortgage Lender & Mortgage Broker #20051918LL & #20051919LB - NY Licensed Mortgage Banker - NYS Department of Financial Services LMBC 106535 / B500898 - NJ Residential Mortgage Lender 2630 - FL Mortgage Lender MLD1388 - VT Lender & Mortgage Broker #6952 & #1297MB
