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8 Approved apartment units! Included in this offering is 13 Platt Avenue Meriden, CT. , a full additional parcel that will provide 17 total parking spaces (including 1 ADA parking spot) for the future development at 117 Lincoln Street-a rare advantage in any Connecticut multifamily project. Together, these two properties will form The Lincoln-Platt Residences, TO BE BUILT luxury community set to redefine Meriden's rental landscape. The development will deliver eight completely new, modern apartments, constructed from the inside out with updated mechanicals, electrical, plumbing, insulation, framing, and high-end finishes throughout. Stainless steel kitchens, reimagined layouts, expanded window lines, and fully refreshed common areas are all part of the turnkey design. With projected rents beginning around $1, 800+, the residences are poised to attract professionals seeking elevated living at an accessible price point. Located in a rapidly improving corridor near the Meriden Train Station, major highways, parks, and new investment activity, this area is experiencing real momentum. The Lincoln-Platt Residences will stand as a next-generation asset in the heart of this renewal-offering investors and future tenants a rare chance to be part of Meriden's residential evolution. ZBA says its possible to add 1 or 2 two more apartment units.
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NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,040,000 | $1,040,000 | $1,040,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.125% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.259% | 6.183% |
| Monthly Tax Payment | $1,335 | $1,335 | $1,335 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $5,905 | $6,319 | $8,776 |
| Total Monthly Payment | $7,365 | $7,779 | $10,236 |
* 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.