Approved for the construction of a multi-residential development featuring 16 units across two buildings. Potential tax reductions or incentives may be available for low-income rentals, as Hamden is encouraging such developments (buyer to verify independently). The 16-unit design is well-suited to the neighborhood and optimized for cost-effective construction. The site is on flat land, requiring minimal site work aside from some tree removal, with no ledge or rock to contend with. Expected rents for the 2-bedroom units range from $1,850 to $2,000 per month, projecting a gross annual income of $384,000 ($2,000/month per unit). The listing agent can provide the Planning and Zoning special permit, as well as site plans and drawings, upon request.
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Listing courtesy of Lauren Freedman, Coldwell Banker Realty Email: Lauren.Freedman@cbmoves.com
75 Bowen Street, Hamden, CT, 06514
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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