CALL FOR OFFERS DUE SUNDAY JULY 2ND BY 8 PM. Assumable Freddie Mac Debt at 3. 66% interest, 30 Year amortization, maturity in September 2031, Interest only payments through September 2024, balance $1, 277, 000! Rare legal 12-unit fully renovated in past 5 years with gorgeous new kitchens, baths, flooring, heating systems etc. Each of these 2 bedroom / 1 bath townhome style apartments boasts a full private basement with laundry hookups, open floor plan on main level with large eat-in kitchen and living room. Kitchens have new cabinets, granite counters, full stainless steel appliance suite including over the range microwave, dishwashers, refrigerator and oven. The second floor features a full bath and 2 bedrooms. There are a total of 18 dedicated parking spaces available for the 12 units. This is a perfect mix of turnkey and value-add. Turnkey in that renovations are complete on all 12 units, value-add in room to increase rents, charge for parking etc. Total proforma income of more than $230, 000 with current income of just under $200, 000. These apartments were renovated with 3 high efficiency heating systems which provide heat to all 12 units so heat and hot water is included in rent. Tenants pay their own electricity. This property is fully fire coded located very close to Smithfield line.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,899,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 401.474.4879
Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,519,200 | $1,519,200 | $1,519,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.250% | 7.000% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.481% | 7.103% | 6.915% |
Monthly Tax Payment | $1,604 | $1,604 | $1,604 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $9,354 | $10,107 | $13,444 |
Total Monthly Payment | $11,083 | $11,836 | $15,173 |
* 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.