Incredible opportunity to purchase this R5 zoned lot and build a 3-unit, 4 story property in the heart of Corona. Plans have been approved and ready to build immediately, streamlining the development process and saving you valuable time and effort. Survey and soil tests have also been done. The future property will be a 3 bedroom duplex (4th and 3rd fl), over a 2 bedroom (2nd fl), over another 2 bedroom (1st fl). Additionally, the property will feature a basement and parking for 3 cars in the rear. There is an easement in place for a shared 8 ft wide driveway, ensuring convenient access to the property for all residents. Located within close proximity to Q23/Q58 bus routes, as well as the LIE, and Grand Central Parkway, commuting to Manhattan and other parts of the city is effortless. Close to the Queens Center mall, schools, flushing meadows park, eateries, etc. Seize the opportunity to capitalize on this prime development opportunity. With approved plans and a strategic location, this property has the potential to yield significant returns. Call to secure this investment before it's gone.
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William Raveis Real Estate
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VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $479,920 | $479,920 | $479,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.125% | 4.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.483% | 6.273% | 5.268% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $2,916 | $2,916 | $3,793 |
Total Monthly Payment | $3,008 | $3,008 | $3,885 |
* 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.