Calling all investors! A GOLDEN OPPORTUNITY to purchase a 5/6ths occupied 3 story, 6 unit apartment building built in the 1920's , in the highly sought after area in East Williamsburg Brooklyn. There are four 1 Bedroom units, two 2 Bedroom units. 6 electric meters, 6 gas meters. The building has zero violations, hard wood floors throughout, and has been lovingly maintained and managed by current owner for multiple decades. The building was converted to natural gas in 2019 and a new furnace and hot water heater were installed at that time. 2015 saw an upgrade to the electrical system. This brick building is zoned R7A and has an FAR of 4. Being sold "AS-IS" . Williamsburg is Brooklyn's booming epicenter with a well-deserved and worldwide reputation for being an influential hub thanks to a thriving cultural scene. Its large weekend markets include Smorgasburg, Artist expos & Flea markets The neighborhood is ideal for dining, shopping and people watching. This "JUST RIGHT" building is perfectly located 1 block parallel to Grand Street b/ Bushwick Ave & Humboldt St. Close to Kosciuszko Bridge & 1 block to the newly upgraded Grand Street subway station where catching the "L" train makes for an easy commute to lower Manhattan. Williamsburg offers convenient proximity to Manhattan via the G, L, B, M, and N subway lines. BQE is close for drivers heading East towards LI and Queens. There is 1 vacant unit. See rent roll attached. Own a piece of history and invest in your own future!
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,400,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,120,000 | $1,120,000 | $1,120,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.625% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.055% | 6.234% | 5.805% |
Monthly Tax Payment | $1,387 | $1,387 | $1,387 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $6,272 | $6,805 | $9,226 |
Total Monthly Payment | $7,784 | $8,317 | $10,738 |
* 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.