This 3-unit multifamily investment presents a strategic opportunity for investors looking to unlock significant value. With two 2-bedroom units and one 3-bedroom unit, and tenant-paid utilities, the property offers immediate potential for equity growth. Two vacant units provide a chance for targeted renovations, allowing investors to enhance the property and bring rents to market levels. Recent closed comparables, such as 64 Spring St at $425k, 18 Dewitt St at $485k, and 246 Columbus Ave at $510k, indicate a $46k-$131k value gap, making this asset an attractive investment with substantial upside.
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Listing courtesy of Lisa Cozzi, Berkshire Hathaway NE Prop. Email: mulveylisa@gmail.com
91 Spring Street, New Haven, CT, 06519
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) 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.
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