Nestled in the heart of one of the most vibrant and sought-after areas, this vacant land is perfectly situated with in walking distance to Central Ave. Enjoy easy access to an array of shops, restaurants, bars, and local attractions that make this area so appealing.
Ideally located between the Historic Kenwood District, Grand Central District, and the Arts Warehouse District, this lot offers a central spot to experience the best of these thriving neighborhoods. New developments are rapidly transforming the area, making this an excellent opportunity for future growth and investment. The property comes with pre-approved plans for a charming 3-bedroom, 2-bathroom, 1200 sq ft home, complete with a parking pad. All construction plans have been paid for and approved for permitting, streamlining your building process. Zoned NTM-1, this lot provides flexibility for either a single-family home or multi-family residential units, offering potential for various investment strategies. With new developments rising around the property, you’ll be positioned in a rapidly evolving area with promising future appreciation. Don’t miss this exceptional opportunity to secure a prime piece of land in a dynamic and growing neighborhood.
The information provided in this listing is based on the best available data and is intended for general informational purposes only. To ensure the accuracy of the details regarding location, zoning, and construction plans, it is not guaranteed and should not be relied upon as a definitive representation of the property.
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William Raveis Mortgage, LLC
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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 | $319,200 | $319,200 | $319,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.000% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.551% | 7.159% | 6.276% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $2,124 | $2,122 | $2,692 |
Total Monthly Payment | $2,199 | $2,197 | $2,767 |
* 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.