Ideal 4Plex income producing property at a discount for a new buyer to come and finish the renovations once plans are approved by City of Miami.
4 units are - 2 are 2/1, 1 is 3/1 and last unit is 1/1. 2 units have central air and other two have wall units. Plans are submitted to City (see attachments) to put few impact windows, upgrade parking lot with 8 parking spaces, 2 water heater has been moved inside therefore needs electric and plumbing permits (plans reflect this change). Building has new roof with permits. Until all the work is completed and finalized, only then will the unsafe hold be removed. Seller financing is available at 50 percent down for interest rate of 8 % for 2 years with no prepayment penalty. Seller will pay for title policy and chose the title company to close.
Miami, FL, 33145
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) 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.
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