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Located on Southwest 8th Street in the premium Little Havana corridor, this is an exceptional development opportunity with plans nearly approved, significantly reducing time to build. The property sits on a 21, 002 SF lot and allows for a maximum height of 8 stories under T6-8 O and T4-R zoning, permitting multifamily, hospitality, medical, and retail uses. The proposed project includes 37 residential units comprised of 3 studios (1D/1B) at 600 SF, 24 one-bedroom/one-bath units at 611 SF, and 10 two-bedroom/two-bath units at 862 SF. The mixed-use component features 2 retail spaces totaling 2, 500 SF (which can be combined), 2, 105 SF of mini storage, and 2, 500 SF of office space. The development also includes 10, 969 SF of amenities highlighted by a pool deck, gardens, and grill area, with approximately 43, 661 SF under A/C and 60 parking spaces. Strategically positioned across from the newly delivered 200-unit Gateway to Little Havana project with 10, 000 SF of retail, directly across from Miami Dade College with 6, 500 enrolled students, within walking distance to the Little Havana Arts and Entertainment District, and surrounded by more than 319, 799 residents within a three-mile radius, this project represents a prime, high-impact mixed-use investment opportunity in one of Miami’s fastest-growing urban corridors.
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Our Executive Mortgage Banker:
Our Insurance Division:
$4,800,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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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 | $3,840,000 | $3,840,000 | $3,840,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 5.875% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.154% | 6.031% | 5.991% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $21,803 | $22,715 | $31,888 |
| Total Monthly Payment | $21,928 | $22,840 | $32,013 |
* 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.