|
Amazing development opportunity in the south end of West Palm Beach! 6311 and 6301 Lake Avenue allow a builder to potentially build two new homes side by side in a popular established neighborhood less than 1 mile to the waterfront and near popular local attractions like The Park Golf Center, the Cox Science Center and the Palm Beach Zoo. Currently one large parcel at the corner of Lake Avenue and Nathan Hale Road, the plan would be to demo the current structure and divide the property into two buildable parcels approximately 67. 5' x 100' each to create two new homes. Each side is available for $675, 000 and one can benefit from the economies of scale by building two homes at once. 6311 Lake Avenue is the proposed address for the south side lot after the division. The Dreher Park neighborhood is close to everything - less than a mile to the fun shops of South Dixie Highway and delicious restaurants like Café Med, Don Ramon, Sushi Jo, La Sirena and Aioli. You are less than a mile from the recently renovated public golf course named The Park with driving range, putting greens, and new clubhouse with restaurants overlooking the fairways. You are quite close to the long waterfront promenade that runs along Flagler Drive perfect for exercise or walking the dog. There is a pocket park at the end of the street and then to the west the expansive Dreher Park with miles of treed walking trails and lakes. You are near South Olive Tennis Center and also Phipps Park home to little league baseball, pickleball and a skate park. And you are just a quick drive to the beach, the airport, or downtown West Palm and Clematis Street and CityPlace. This opportunity is perfect for a developer who is ready to purchase this land and build two new homes in an area popular with buyers near everywhere you want to be in West Palm. 6311 and 6301 Lake Avenue are only available together as a package deal priced at $675, 000 each and the buyer would be responsible for the demo and the lot split. Call today as the opportunity to build two homes side by side does not come along every day.
All listings featuring the BMLS logo are provided by BeachesMLS Inc. This information is not verified for authenticity or accuracy and is not guaranteed.
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:
$675,000
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
|
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
|---|---|---|---|
| Loan Amount | $540,000 | $540,000 | $540,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.990% | 6.375% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.370% | 6.524% | 5.866% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,234 | $3,369 | $4,448 |
| Total Monthly Payment | $3,326 | $3,461 | $4,540 |
* 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.