An unparalleled development opportunity awaits at 2216 Gabarone Boulevard, Auburndale, FL 33823: a 5. 21-acre lot with approved permits for the construction of “The Town of Lake, ” a visionary multifamily residential project featuring 59 units. Strategically positioned in Central Florida, this shovel-ready property offers an impressive 118, 000 SF of proposed on-site development area, supported by 0. 29 miles of infrastructure-ready roadway and prime RG1 zoning (Medium Density Residential). Situated in the heart of a booming region, Auburndale is experiencing unprecedented growth fueled by its proximity to Orlando and Tampa, easy access to Interstate 4, and the rising demand for quality housing driven by job creation, population expansion, and lifestyle appeal. This project is designed to capitalize on the area’s thriving economy, which includes major employers, retail hubs, and recreational amenities that make it a magnet for families and professionals alike. With permits fully approved, this investment eliminates the typical time and cost barriers of development, offering a fast track to market in one of Florida’s most dynamic regions. The Town of Lake represents a unique opportunity to meet growing housing demands while delivering high returns in a location primed for long-term growth. This is not just a property; it’s a gateway to Central Florida’s next major residential success. Seize this rare chance to lead the market—contact us today to take the first step in making this project a reality!
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Our Executive Mortgage Banker:
Our Insurance Division:
$3,600,000
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 | $2,880,000 | $2,880,000 | $2,880,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.625% | 6.375% | 6.375% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.209% | 6.498% | 6.579% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $18,441 | $17,967 | $24,890 |
Total Monthly Payment | $18,566 | $18,092 | $25,015 |
* 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.