Legal 7-family located in a highly sought-after area of Corona offering over 6% CAP rate. The property comprises one duplex 3-bedroom unit and six 1-bedroom units, all of which are currently fully leased, and all units are sub-metered, Tenant pays their own utilities making it a low-maintenance investment opportunity. The property has significant tax savings with a 421 tax abatement, the property is expected to generate strong cash flow and appreciate in value over time.Situated in the vibrant neighborhood of Corona, residents benefit from the convenience of being close to a plethora of amenities, including shopping centers, restaurants, schools, parks, and public transportation options., Additional information: Rental Income:Y, Building Size:25 ft x 51.5 ft
53-12 102nd Street, New York, (Corona), NY, 11368
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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