Investor's Dream: Prime Development Opportunity in St. Petersburg! Calling all visionary investors, seasoned developers, and townhome enthusiasts! This exceptional offering presents a golden chance to shape the city's landscape with a VARIETY of possibilities. Zoned CCS-1, these TWO lots, totaling . 917 acres, await your creative touch. Situated within the vibrant heart of St. Petersburg, these parcels boast a strategic location that perfectly marries convenience with lifestyle. Picture this: a remarkable 14-unit townhome haven envisioned by ARO Engineering, showcasing a carefully crafted 23x45 sqft footprint. With two thoughtfully designed floors, encompassing approximately 2, 070 sqft of luxurious living space, these residences are poised to redefine urban elegance. As an added touch, each unit's architecture anticipates a ground-floor garage, elevating both convenience and functionality. While the ARO Engineering concept is a stunning starting point, it's essential to note that the design is yet to embark on its formal approval journey, allowing ample room for your personal modifications and enhancements. Beyond the borders of this promising development, a world of convenience awaits. Discover the ease of access to Tampa International Airport, I-275, and the iconic Gandy Bridge, providing seamless connectivity to neighboring regions. The allure of St. Petersburg's downtown core and pristine beaches is merely moments away, inviting a lifestyle that harmonizes work, play, and relaxation. Don't let this exceptional opportunity slip through your fingers. Dive into the heart of St. Petersburg's burgeoning growth story and contribute to its dynamic transformation. Please review the provided attachments for comprehensive details on both lots. While all information contained herein is believed to be accurate, verification by the purchaser is advised to ensure confidence in your investment. Experience the thrill of crafting a new chapter in St. Petersburg's evolution – your masterpiece awaits!
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William Raveis Real Estate
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Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,200,000 | $1,200,000 | $1,200,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 7.000% | 6.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.851% | 7.103% | 7.041% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $8,186 | $7,984 | $10,702 |
Total Monthly Payment | $8,311 | $8,109 | $10,827 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first 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.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.