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Solid semidetached brick legal 3 family fixer upper in the Ditmars area of Astoria and in the vicinity of Astoria Park. The large structurally sound 2 storeys plus basement building of 20x68 ft is in need of renovations providing an opportunity for the handyman, contractor or designer of vision to maximize its full potential. The Lot is 25x100 ft within the R5B zoning district and it still has 825 sq ft of unused air rights (please check with your architect for expansion options). The location is well known for its convenience, within 0. 8 miles to the Astoria-Ditmars Blvd N and W subway station, multiple bus routes, and many entertainment and restaurant options. The area has always been residential and highly desirable with Astoria Park as one of its main attractions with its outdoor pool, running track, bocce courts, tennis courts, skate park and dog friendly sections. Shore Boulevard by the park is now an Open Street, without vehicular traffic and ideal for bicycles and runners. The proximity to NYC, La Guardia Airport and all means of transportation makes this address a commuters paradise. This is why you can see many new high end residential projects coming up in the neighborhood. The property also represents a unique investment opportunity in a very stable rental market and enjoys low operating expenses and low Queens real estate taxes. The first floor features a large unit (3 or 4 Bedrooms) and the second floor 2 other units ( a full 1 bedroom apartment and a full 2 bedrooms apartment). The basement is partially finished and offers space for a family room, gym or a home office. There are 2 garages in the rear of the property accessed via a community driveway. The heat is gas, with one steam boiler and 3 separate hot water heaters. The property is being sold in as is condition, shown by appointment only. Please note, some photos have been virtually declutter ed while leaving condition as is, so you can appreciate dimensions and layout. The seller will clean out and empty the property before closing.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
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 | $1,280,000 | $1,280,000 | $1,280,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.614% | 6.613% | 6.183% |
Monthly Tax Payment | $949 | $949 | $949 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $7,268 | $8,090 | $10,801 |
Total Monthly Payment | $8,342 | $9,164 | $11,875 |
* 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.