SUBJECT PROPERTY IS A +/-15. 69 ACRE PARCEL OF VACANT LAND THAT IS PRESENTLY BEING UTILIZED AS AN RV PARK & FISH CAMP WITH 6 MOBILE HOME RENTAL UNITS ALSO ON SITE. THE PROPERTY IS LOCATED WITHIN THE UNINCORPORATED PORTION OF SOUTHEAST VOLUSIA COUNTY (TAX DISTRICT-600) IN OAK HILL, FLORIDA. THE PROPERTY AND PARCEL MAINTAINS A CLASSIFIED ZONING DESCRIPTION OF "MH-5 URBAN MOBILE HOME SUBDIVISION", WHICH ALLOWS FOR SINGLE FAMILY MODULAR/MANUFACTURED OR MOBILE HOME DWELLINGS WITHIN THE LAND DEVELOPMENT CODE OF VOLUSIA COUNTY. THE COUNTY LDC CALLS OUT FOR PROVIDING FOR A MINIMUM OF 5, 000 SF LOT SIZES PERMITTING MAXIMUM LOT COVERAGES @ 35% AND HAVING MINIMUM FLOOR AREA REQUIREMENTS OF 720 SF. THE SUBJECT VACANT LAND CONSISTS OF A BEAUTIFULLY CANOPIED PARCEL WITH MATURE TREES IN PLACE, WHICH CAN BE DEVELOPED INTO A LARGER RV CAMPGROUND FACILiTY WITH SMALLER DETACHED MODULAR HOMES & PADS WITH FULL HOOK UPS ADDED TO ACCOMMODATE BOTH FULL-TIME AND PART-TIME WINTER RESIDENTS. ACCESS TO BISSIT BAY ROAD CUTS INTO THE PROPERTY OFF OF EAST ARIEL ROAD AND CAN BE POTENTIALLY RE-UTILIZED AND REVIVED FOR BETTER INGRESS AND EGRESS PURPOSES TO PROVIDE FOR UTILITY ACCOMMODATING ALL VEHICLE TYPES WITH BOAT TRAILERS WHICH CAN BE PARKED ON SITE AFTER LAUNCHING. THE PROPERTY'S PRIVATE BOAT RAMP BY THE DOCK PROVIDES ACCESS TO SOME OF WORLD'S BEST FISHING AROUND THAT ATTRACTS FOLKS FROM ALL OVER COUNTRY. THE PROPERTY WOULD REQUIRE ADDITIONAL WATER AND SEWER SERVICE CONNECTION THAT WOULD PROVIDE THE ENTIRE SITE WITH POWER & WATER FOR ITS POTENTIAL RESIDENTS AND POSSIBLY ADDING A COMMUNITY GREEN SPACE/DOG-PARK AREA FOR BOTH RELAXING AND GATHERING WITH FRIENDS, FAMILY AND PETS.
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Our Executive Mortgage Banker:
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$1,949,000
William Raveis Real Estate
Phone: 888.699.8876
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 | $1,559,200 | $1,559,200 | $1,559,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.750% | 6.625% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.545% | 6.748% | 6.932% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $10,113 | $9,984 | $13,798 |
Total Monthly Payment | $10,238 | $10,109 | $13,923 |
* 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.