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Welcome to 60-50 Putnam Avenue, a rare opportunity to own a three-family property in the heart of Ridgewood, Queens. Built in 1915, this well-maintained triplex sits on a 20' x 96' lot and features a substantial 20' x 60' building footprint spanning three stories. The property offers three spacious residential units, including one 3-bedroom apartment and two 4-bedroom apartments, with each unit featuring its own full bathroom and can be delivered vacant. Whether you're an investor seeking strong rental potential or an end-user looking for a multi-generational living arrangement, the ability to take title with the property delivered fully vacant provides exceptional flexibility. Buyers can immediately lease the units at current market rents, renovate to their specifications, or occupy one or more apartments while generating rental income from the others. Adding to the property's appeal is a detached three-car garage, a highly sought-after amenity in Ridgewood that offers valuable parking, storage, or additional income potential. Annual property taxes are just $9, 364. 16, making this an attractive long-term investment opportunity. Ideally situated near neighborhood shops, restaurants, parks, schools, and public transportation, this property combines convenience, versatility, and income potential in one of Queens' most desirable and steadily appreciating neighborhoods. Don't miss this opportunity to acquire a vacant three-family property with private garage parking in a prime Ridgewood location.
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Our Executive Mortgage Banker:
$1,788,000
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 | $1,430,400 | $1,430,400 | $1,430,400 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.086% | 6.183% |
| Monthly Tax Payment | $780 | $780 | $780 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $8,122 | $8,576 | $12,071 |
| Total Monthly Payment | $9,027 | $9,481 | $12,976 |
* 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.