CALLING ALL BUILDERS AND/OR INVESTORS!! Rare opportunity to buy within Ocala City Limits. Our Lady of the Springs Catholic Church is to the West. To the East is FONTAINEBLEAU ROYALE CONDOS. Across the street is the Ocala Civic Theater. Currently the property is zoned R1 - Single Family Dwelling. The Zoning Dept. of Ocala said that it would be easy to have it rezoned R3 (multi family) and put condos on it. It would accommodate 26 units, 3 stories high. It is eligible for city water and sewage and electric is nearby. Seller has no first hand knowledge of the land. The buyer must do their own due diligence and verify with the zoning office of the city of Ocala that the land can be re-zoned for their intended purposes. There is no survey of the land, it is the buyer's responsibility to determine the boundaries of the property. Property is undeveloped raw land.
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$250,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $200,000 | $200,000 | $200,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.875% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.425% | 7.146% | 6.276% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $1,314 | $1,329 | $1,687 |
Total Monthly Payment | $1,389 | $1,404 | $1,762 |
* 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.