This 14-unit, 6, 982 SF building, situated in the heart South Beach, Miami is a prime opportunity for those looking to invest in a piece of commercial real estate. Nestled in the lively neighborhood of Flamingo, tenants will have no shortage of activities in which they can spend their free time, Potential tenants will be able to enjoy close beach access (10-minute walk), as well as a variety of outstanding restaurants, bars, shops, museums, art galleries, and the well renowned Art Deco Historic District. Apart from your typical city activities, the property is also within a two-minute walk to Flamingo Park which has a pool, playground, basketball and tennis courts, and couple of sports fields. The apartment building, which was renovated in 2014 and has a current 40 year recertification.
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.
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Our Executive Mortgage Banker:
Our Insurance Division:
$3,999,999
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 | $3,199,999 | $3,199,999 | $3,199,999 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.625% | 6.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.282% | 6.762% | 6.036% |
Monthly Tax Payment | $3,304 | $3,304 | $3,304 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $20,490 | $20,490 | $28,096 |
Total Monthly Payment | $23,919 | $23,919 | $31,525 |
* 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.