Endless Opportunities: Double Lot 3 Blocks from the Beach
Seize the chance to create your dream home on this corner double-lot located in the highly sought-after Belle Vista neighborhood, just 3 blocks from the beach. This property offers a unique redevelopment opportunity, perfect for those looking to build a spacious custom home. With only one neighboring property on one side, the lot provides added privacy and flexibility for designing your ideal living space. Positioned across the street from waterfront homes, a new build here could capture stunning views of the bay, the iconic Don Cesar, and the Gulf of Mexico.
For buyers looking to restore instead of rebuild, the existing home offers charm and character that can be brought back to life. The property has been remediated, with all drywall removed, and is now ready for a new owner to take on the project and make it their own. You can work with the city to navigate the process of restoring this home and transforming it into a beautiful coastal retreat tailored to your vision.
This property experienced flood damage from Hurricane Helene and is being sold AS-IS for redevelopment purposes only, with no inspection contingencies. Estimated pre-storm value was $1. 1M, per Realtor. com. Whether you choose to rebuild or restore, this is a rare opportunity to create a masterpiece in a premium coastal location. Don’t miss your chance to bring your vision to life!
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Our Executive Mortgage Banker:
Our Insurance Division:
$659,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $527,200 | $527,200 | $527,200 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.875% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.191% | 7.171% | 6.276% |
Monthly Tax Payment | $317 | $317 | $317 |
H/O Insurance Payment | $92 | $92 | $92 |
Initial Principal & Interest Pmt | $3,463 | $3,504 | $4,446 |
Total Monthly Payment | $3,872 | $3,913 | $4,855 |
* 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.