SUPER-HOT POTENTIAL COMMERCIAL/RETAIL SITE! APPROXIMATELY 7 ACRE TRACT ADJACENT TO THE MEGA DEVELOPMENTS OF MIRADA AND EPPERSON! This approximately 7 acre site is currently zoned AC with 6 existing mobile homes which are all tenant owned. Each tenant pays $300 per month in lot rent and responsible for all repairs and lawncare of their rented property sites. The property has a future land use of VMU2B - The Villages of Pasadena Hills MPUD. The true potential here is rezoning the property to accommodate a future commercial or retail use. The entire area is exploding with development of the mega-size developments of the Lagoon based subdivisions of Mirada and Epperson. Tenants have resided on the site for a lengthy part of time and own their mobile homes on the site, and pay lot rent to the landowner. Landowner provides well water as a utility and nothing else. Tenants pay their own electric, data/cable, lawncare, etc. Upon a successful sale the new owner may have the ability to collect future lot rent from each tenant. Tenants have been advised the property is now up for sale and a future user may have future commercial uses for the property. Leonard Rd is currently a private maintained road however has access from both Curley Rd and Prospect Rd. The site is highly visible with numerous vehicles traveling by each day. There is a small creek with a closed down bridge on the west side of the property. Shown by appointment only. Call today for more details on this exciting opportunity in an area that is exploding with new development!
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William Raveis Real Estate
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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 | $2,800,000 | $2,800,000 | $2,800,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.125% | 6.125% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.443% | 6.258% | 6.201% |
Monthly Tax Payment | $351 | $351 | $351 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $17,013 | $17,013 | $23,628 |
Total Monthly Payment | $17,489 | $17,489 | $24,104 |
* 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.