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Attention Savvy Investors and Developers! This is a rare opportunity to acquire a legal three-family home on a spacious 8, 000 sq ft lot zoned R4-1, complete with a private driveway and tremendous upside potential. The existing building features three well-laid-out apartments: First Floor Duplex (with semi-finished basement): 4 bedrooms, living room, dining room, eat-in kitchen, 2 bathrooms, front yard, and rear porch — approximately 1, 700 sq ft. Second Floor: 1-bedroom apartment with kitchen, dining room, bathroom, and a charming screened-in balcony — approximately 900 sq ft. Top Floor: Cozy 1-bedroom apartment with living room and dining room — approximately 800 sq ft. The property includes one heating system (gas boiler and hot water heater) serving the entire building. The private driveway comfortably fits 6 vehicles, plus there’s a detached double-car garage. For developers, approved conceptual designs are available to build three new two-family homes, each with a detached garage — offering a maximum total buildable area of approximately 7, 965 sq ft under current zoning. This is a massive opportunity for any builder or investment team looking to capitalize on strong rental demand or redevelopment potential in a prime location. Don’t miss out! Add this high-potential gem to your portfolio today!
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Our Executive Mortgage Banker:
$2,888,000
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 | $2,310,400 | $2,310,400 | $2,310,400 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 6.000% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.069% | 6.110% | 5.932% |
| Monthly Tax Payment | $586 | $586 | $586 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $12,758 | $13,852 | $19,186 |
| Total Monthly Payment | $13,469 | $14,563 | $19,897 |
* 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.