289 Warburton Avenue, Yonkers, NY, 10701 | $1,775,000
This is your chance to get in on the Yonkers development BOOM!
Location: The lot has a prime location with 100 feet on Warburton Ave and an additional 25 feet on Woodworth Ave, providing convenient access and potentially enhancing attractiveness.
Approval and Development: The site is fully approved for a 36-unit apartment building, which streamlines the development process and reduces uncertainty for investors. Proforma of over $840, 000 per year net income!
Building Features: The planned building will be high efficiency, running on electric power, which aligns with modern sustainability trends. Tenants will be responsible for paying their own utilities.
Parking: The property offers two levels of on-site parking, totaling 36 spaces. Sufficient parking is a crucial factor for urban developments and can add substantial value.
Affordable Housing: The inclusion of one affordable rental unit, as required by the City of Yonkers, not only meets regulatory requirements but also supports community inclusivity.
Proximity to Transit: With a distance of only 0. 07 miles to the Metro North Station, the site offers excellent access to public transportation, appealing to commuters and enhancing the property's marketability.
View and Surroundings: Apartments at the rear of the building will boast views of the Hudson River, which can be a major renting point for potential tenants seeking attractive living environments.
Development Potential: The presence of at least six other new development sites in the area underscores Yonkers' growth and the attractiveness of investing in this location.
Don't miss your chance. Building and site plans available to view.
Features
- Lot Desc: Level, Rolling Slope, Views, Part Wooded
- View: Water
- Elem. School: Yonkers Early Childhood Academy
- Middle School: Yonkers Middle School
- High School: Yonkers High School
- School District: Yonkers
- MLS#: H6314116
- Days on Market: 144 days
- Website: https://www.raveis.com
/prop/H6314116/289warburtonavenue_yonkers_ny?source=qrflyer
William Raveis Family of Services
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.
Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
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To learn more about our credentials, visit raveis.com today.
Sarah DeFlorioVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.DeFlorio@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
289 Warburton Avenue, Yonkers, NY, 10701
$1,775,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah DeFlorio
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@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 | $1,420,000 | $1,420,000 | $1,420,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.250% | 5.875% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.748% | 6.396% | 6.036% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $8,063 | $8,743 | $11,887 |
| Total Monthly Payment | $8,188 | $8,868 | $12,012 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535