Under contract-accepting backup offers. Introducing an investment opportunity in Arlington Park, Sarasota: a fully-approved subdivision project encompassing a 1. 25-acre lot, soon to transform into four high-quality, oversized homesites.
This property, situated in a prime Sarasota neighborhood, is currently in the infrastructure development phase, including utilities and a private road. The project is expected to reach completion by the end of September 2023, following which, individual addresses will be assigned to each lot.
The dev team is pleased to announce that they've brought on board a team of respected custom and spec builders, ready and motivated to drive this project forward. These builders, known for their skills and quality workmanship, are looking forward to contributing through either a builder fee arrangement or a joint venture agreement. This partnership provides additional security and predictability for the investment, fostering a quicker path to potential returns.
The homesites are located within Arlington Park, a highly desirable neighborhood in Sarasota, ideally positioned under Hyde Park Street and west of S Shade. The vigorous market for new construction homes in this area underscores the opportunity for a successful investment.
The homesites, with dimensions ranging from 8553 sqft to 9770 sqft, are part of a private subdivision with potential for gated access. The homesites also benefit from being situated in a top-tier school district and outside flood zones. Furthermore, as per HOA guidelines, each home is expected to feature a minimum of 2, 800 sqft of living space and a two-car garage.
This investment proposition, blending location, size, and a high potential for returns, is backed by detailed financials and a well-prepared proforma. These documents are readily available for review with POF.
The team is readily available to discuss this lucrative opportunity in further detail. Interested parties are encouraged to contact us to acquire these materials or to address any queries about the process. Don’t miss out on this unique chance. Reach out today and take the first step toward securing a stake in this promising development in the heart of Sarasota. Secure your future with an investment that blends excellent potential returns with a team of experienced builders already on board.
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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 | $1,760,000 | $1,760,000 | $1,760,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.875% | 6.875% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.877% | 7.014% | 7.041% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $12,006 | $11,562 | $15,697 |
Total Monthly Payment | $12,131 | $11,687 | $15,822 |
* 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.