132 Collins is a 30 unit brick asset located in the Asylum Hill Neighborhood of Hartford. This asset is located in the Opportunity Zone, allowing Investors to take advantage of the benefits associated with the location. This property has 3 stories/ with 10 units on each floor. The unit mix consists of: 3, 3 bedroom units; 9, 2 bedroom units; 6, 1 bedroom units; and 12 Studios. Pride of ownership is evident and this property has been owner managed and in the family for over 15 years. Updates include: Hard wired alarm system, Hardwood floors in 28 of 30 units, hardwood floors in all common areas except for the first floor which has carpet tiles. The windows have been replaced. The property has tenant paid electric. Electric is updated with sub panels and circuit breakers. Owner pays heat and water. The roof is 10 years old and there is an opportunity for laundry in the basement. Current ownership just canceled the laundry contract they had so that new ownership can choose their own strategy. This asset can be purchased with a SFR that has 13 parking spots for an additional $300k. There is the opportunity for assumable financing. The current loan balance is @ $1. 4 million. Buyer would need to bring the balance to the closing as a down payment. Seller financing is NOT AVAILABLE. Please have POF for your client available. Please do not walk the property without a confirmed appointment.
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NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $2,240,000 | $2,240,000 | $2,240,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.000% | 6.750% | 6.500% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.377% | 6.851% | 6.664% |
Monthly Tax Payment | $7,061 | $7,061 | $7,061 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $13,430 | $14,529 | $19,513 |
Total Monthly Payment | $20,616 | $21,715 | $26,699 |
* 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.