Rarely available, 12 unit brick building in the city's West End neighborhood with a current 9. 5% CAP and big value add opportunity. Property consists of all 1 bed/1 bath apartments with roughly 725 SF each. There is separate & tenant paid electric + central and owner paid gas H&HW (1 furnace and 2 newer hot water tanks). There is currently no laundry in the building. The property features fire rated doors to the exterior and units. The trash is city pick up (no dumpster). There are a few tandem parking spaces on the side and a fenced area w/additional parking in back. Unit renovations needed + rents are below market = great upside potential! Location is desirable for tenants - close to West Hartford, highway access and plenty of shops, restaurants and other amenities. 22+% ROI pro-forma.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
For homebuyers and sellers, our Attorney Network:
$899,900
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $719,920 | $719,920 | $719,920 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.955% | 6.612% | 6.182% |
Monthly Tax Payment | $2,678 | $2,678 | $2,678 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $4,144 | $4,550 | $6,075 |
Total Monthly Payment | $6,914 | $7,320 | $8,845 |
* 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.