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This West End investment opportunity presents a fire-damaged multi-family building with significant potential for value-add renovation. The property consists of all 1 bed/1 bath units, with 740 SF each, featuring hardwood floors throughout. While the units are currently dated and in need of full updating, the building has several upgrades in place including vinyl replacement windows, a roof approx. 12 years old, and newer gas and water service completed in 2024 by the city. . All utilities are separate and tenant-paid, with gas heat and hot water systems that are believed to be functional, as well as separate electric panels for each unit. The property also includes a six-car detached garage, offering additional parking or potential rental income. This is an excellent opportunity for an investor or developer to restore and modernize a well-located asset with long-term upside.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $380,000 | $380,000 | $380,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.250% | 5.375% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.357% | 6.431% | 5.668% |
| Monthly Tax Payment | $1,269 | $1,269 | $1,269 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $2,248 | $2,340 | $3,080 |
| Total Monthly Payment | $3,592 | $3,684 | $4,424 |
* 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.