Gross Rental Income $148, 800 as of Nov. 1st!!! CAP RATE 8. 01!!! Fantastic Opportunity to own a fully rented, 10 unit, mixed use building across the street from the beauitful, brand new City Hall and next door to the soon to be opening Fitchburg State Theatre! This building has 2 ground level commercial units and 8 reseidentail units of which 4 have been rennovated with fresh paint, new cabinetry, LVT flooring, and quartz counterops! All residental units are renting for $1200+/mth and commercial units are at $1000+/mth. All utilities are separated. One of the commercial units has been updated with fresh paint and LVT flooring. Room for expansion in the basement to add coin-op laundry! The rental market is hot! Consider adding this fantastic building to your portfolio!!! Photos of all units available upon request!
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,300,000
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 | $1,040,000 | $1,040,000 | $1,040,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.375% | 6.125% | 5.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.850% | 6.234% | 5.930% |
Monthly Tax Payment | $950 | $950 | $950 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,824 | $6,319 | $8,636 |
Total Monthly Payment | $6,899 | $7,394 | $9,711 |
* 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.