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Prime Multi-Family Investment Opportunity – Legal 3-Family with Exceptional Parking Rare opportunity to acquire a fully renovated legal three-family property with strong income potential and long-term value. The property sits on a 26. 33 ft × 100 ft lot with a building size of approximately 18. 33 ft × 40 ft, and each floor features a two-bedroom apartment layout with a living room, full bathroom, and kitchen, making the units highly rentable and appealing to tenants. The entire building underwent a complete gut renovation in 2018, with permits filed and signed off. Major improvements include new boilers, upgraded heating systems, and a new roof, along with professionally repointed brick exterior, significantly reducing future capital expenditures. Each unit is equipped with its own boiler, gas meter, and electric meter, minimizing landlord utility responsibilities and improving operational efficiency. A separate utility room is also in place for maintenance and system access. A standout feature of the property is the extensive parking capacity, including a legal two-car garage, private driveway, and an oversized concrete backyard capable of accommodating up to eight additional vehicles—an extremely rare amenity that can enhance rental value. All units are currently occupied on a month-to-month basis, allowing immediate rental income while providing flexibility for rent adjustments or potential owner occupancy. This semi-detached, low-maintenance, turn-key property presents an excellent opportunity for investors seeking multiple revenue streams and long-term upside potential. Note: The property is still tenant-occupied with on-time payments. Showings are available for serious offers only.
All information is intended only for the Registrant’s personal, non-commercial use. This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. RLS Data display by William Raveis Real Estate, Inc.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.
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Our Executive Mortgage Banker:
$1,395,000
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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,116,000 | $1,116,000 | $1,116,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.250% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.361% | 6.183% |
| Monthly Tax Payment | $727 | $727 | $727 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $6,337 | $6,871 | $9,417 |
| Total Monthly Payment | $7,189 | $7,723 | $10,269 |
* 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.