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The Perfect Investment Opportunity. . . Nestled in a prime location, this unique investment opportunity offers you the chance to own an entire
street, spanning 1. 52+/- acres, zoned RMF 10. This property is not just a piece of land; it’s a gateway to
significant returns and strategic growth, presenting an array of possibilities for the astute investor. The property in question currently features three existing duplexes and one small house. Together, these
structures provide a mix of living spaces that cater to various tenant needs. The setup includes:
·Five units: 1 bedroom, 1 bath
·Two units: 2 bedrooms, 1 bath
Each of these units has been meticulously renovated, ensuring that they are in top-notch condition, ready
to provide a comfortable living experience for tenants. The small house, while currently under renovation,
is in the process of receiving a new roof and repairs post-Hurricane Milton, further enhancing its value
and appeal.
One of the most enticing aspects of this investment is the potential for expansion. The property is zoned
RMF 10, which allows for substantial growth. With the capability to build four additional units, there is a
significant opportunity to maximize the investment. This expansion potential not only increases the
number of income-generating units but also enhances the overall value of the property.
Currently, all units are leased except for the small house, which is undergoing renovations. This high
occupancy rate is a testament to the property's desirability and the demand in the area. The renovations on
the small house are expected to be completed soon, making it ready for leasing and contributing to the
overall rental income.
The rental market in this region has seen a steady demand, especially for well-maintained units close to
essential amenities and recreational sites. The mix of 1-bedroom and 2-bedroom units caters to a broad
spectrum of tenants. This diversity in unit types helps maintain a low vacancy rate and ensures a stable rental income.
This investment opportunity is indeed unique, offering a blend of immediate income and future growth
potential. The strategic location, high-quality renovations, and expansion possibilities make it an
attractive option for investors looking to diversify their portfolio and achieve substantial returns. Whether
you are an experienced investor or new to real estate, this property presents a chance to capitalize on a
prime asset in a thriving market.
Considering the current income, potential income from additional units, and the favorable market
conditions, the return on investment is projected to be substantial. The high occupancy rates and demand
for quality rental units ensure a consistent and lucrative income stream.
In summary, owning this 1. 52+/-acre property with existing duplexes and the potential for further
development is a golden opportunity. The combination of current tenant occupancy, renovation efforts,
and prime location near desirable amenities makes it a sound and profitable investment. Explore this
opportunity today and secure your place in a growing and lucrative market.
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:
$1,200,000
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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $960,000 | $960,000 | $960,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.500% | 6.375% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.848% | 6.613% | 6.560% |
Monthly Tax Payment | $671 | $671 | $671 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,833 | $6,068 | $8,297 |
Total Monthly Payment | $6,629 | $6,864 | $9,093 |
* 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.