Price Drop. Introducing 53-04 Seabury, Elmhurst, NY 11373: A Premier Investment Opportunity in Elmhurst
Discover this unique and captivating property, formerly a convent, offering a remarkable investment opportunity. Boasting a spacious and versatile layout, the property features 9 bedrooms along with a variety of bathrooms, including 4 full and 3 half baths, spread over an impressive 3066 square feet of living space. Situated on a substantial corner plot of 44'x74' (3256 square feet), this residence distinguishes itself in its community.
The property also includes a well-designed basement, brightened by large windows and equipped with a separate entrance, enhancing the charm and functionality of the estate. A long driveway leading to off-street parking flows into a charming backyard, adaptable for multiple purposes.
Rich in historical value, the property incorporates a full chapel on the first floor, a testament to its past as a church-owned building. This feature, coupled with its strong Single Room Occupancy (SRO) potential, renders the property ideal for varied uses such as a city retreat, group home, or for development ventures.
Zoned R5 and classified as A1 - Residential, the property boasts significant development potential. The favorable Floor Area Ratio (FAR) values, 1. 25 for Residential and 2 for Facility, along with an existing FAR of . 94, and an allowable usable floor area of 4069 square feet, highlight its investment allure.
Viewings are available by appointment, requiring a 24-48 hour notice to ensure the privacy of the current tenants. We respectfully request that the tenants are not disturbed during this time. This extraordinary Elmhurst property is a unique and lucrative opportunity for astute investors.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$1,998,000
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 | $1,598,400 | $1,598,400 | $1,598,400 |
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 | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $9,842 | $10,634 | $14,144 |
Total Monthly Payment | $9,967 | $10,759 | $14,269 |
* 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.