Newly developed 9-unit elevator building with tax abatement. Built on a 42 Ft wide lot with 100 ft depth with a building dimension of 42 x 49. 6 yielding almost 2093 SQFT on each floor. Consisting of six 2 bedrooms and three 1 bedrooms. Each unit comes with its own private outdoor space. Gross monthly income is around 30K. Stately built brick building located in the desirable neighborhood of Ridgewood. This beautifully designed residence offers a perfect blend of comfort, style, and functionality. With an array of impressive features and a prime location, this building is sure to captivate your heart and bring very desirable cap rates. As you step inside, you will be greeted by a spacious, inviting interior with a warm and welcoming ambiance. All units features spacious living rooms, tall ceiling, floor to floor-to-ceiling windows which boast extra sun lights. Every unit provides ample space for all the needs one can ask for. The interior of this home is adorned with a mixture of tiles and hardwood floors with stainless steel appliances and outdoor spaces adding a touch of elegance to every room. The open-concept living room plans allows for seamless flow and natural light to fill the space, creating a bright and airy atmosphere. Venture outside, and you will discover a lovely shared backyard oasis with access to all the units, perfect for relaxation and entertaining. The spacious green backyard provide a picturesque setting for outdoor gatherings or barbecues, For extra entertainment building also provides shared roof deck with beautiful direct views of the Manhattan skyline. Situated in the sought-after neighborhood of Ridgewood bordering with Bushwick this building offers an enviable location. Myrtle Wyckoff Ave Subway stops are just a few blocks away, ensuring convenient access to Manhattan. Also very close to the busy retail strip of Myrtle Ave, and tons of restaurants including (Michelin star Rolo) and a tone of cafes and bars With its remarkable features, prime location, and impeccable design, this building presents an incredible investment opportunity for those seeking a piece of real estate with outstanding returns with very low expenses.
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Our Executive Mortgage Banker:
Our Insurance Division:
$6,000,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $4,800,000 | $4,800,000 | $4,800,000 |
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 | $0 | $0 | $0 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $29,554 | $31,935 | $42,476 |
Total Monthly Payment | $29,679 | $32,060 | $42,601 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.