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Welcome to 1392 Commonwealth Avenue, a rare opportunity to own a versatile and income producing 3 family property offering exceptional space, flexibility, and long term investment potential. Whether you are an investor looking to expand your portfolio or an owner occupant seeking to offset your mortgage with rental income, this property presents an outstanding opportunity. The first floor features a well laid out 3 bedroom residence complete with a spacious living room, kitchen, and full bathroom. The second floor offers an expansive and unique layout highlighted by a massive open concept living and dining area, custom built in bar, elegant china cabinet, 3 generously sized bedrooms, 2 full bathrooms, and a full kitchen ideal for comfortable everyday living and entertaining alike. In addition, the property includes a separate studio unit located behind the first floor residence with private side access, creating an additional source of rental income and added versatility. The home also features a fully finished basement, providing additional flexible space ideal for recreation, storage, workspace, or extended living use. All units are currently occupied by paying tenants on month to month agreements, offering immediate cash flow with future flexibility for investors or end users alike. Property can also be delivered vacant, creating endless possibilities for customization, owner occupancy, or maximizing rental potential. With strong income potential and multiple living configurations, this property is an exceptional opportunity for both seasoned investors and first time buyers alike.
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Our Executive Mortgage Banker:
$1,099,000
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 | $879,200 | $879,200 | $879,200 |
| 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 | $428 | $428 | $428 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $4,992 | $5,413 | $7,419 |
| Total Monthly Payment | $5,545 | $5,966 | $7,972 |
* 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.