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"PRICED CLOSE TO THE BARE BONES" to create a Sale to a Qualified Builder or Investor to Rehab / Re-Purpose this "Diamond in the Rough. "Early 1900s Gothic-Style Church plus a 1960s 14, 688+/- sq. ft. Elementary School set on a 1. 50 Acre Corner Lot. In 2023, the Owners received "Conditional Approval" by Special Exception from the Torrington Planning and Zoning to convert the School into Apartments. The Church in total has just over 14, 000 sq. ft. The First Floor core area is approximately 7, 120 S/F and 30 ft. Ceiling Height. The Basement is similar in size, with about 70% of finished area. Approximately 50 car On-Site Paved Parking. The property is connected to City Sewer& Water. Natural Gas is available. General Neighborhood consists of Multi-Family Homes and Small Garden Style Apartments. Retail, Banking, Variety of Shopping, Pharmacies, Food Venues are in Close Proximity. Property is being Sold in its "AS IS"and "Where IS" Condition. Prospective Buyers will be allowed to conduct their own Tests and Inspections for their own Knowledge and Informational Purposes. MOTIVATED SELLER! REASONABLE CASH OFFERS WITH PROOF OF FUNDS WILL BE CONSIDERED
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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
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $476,000 | $476,000 | $476,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.125% | 6.500% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.230% | 6.650% | 5.866% |
| Monthly Tax Payment | $1,794 | $1,794 | $1,794 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $2,892 | $3,009 | $3,921 |
| Total Monthly Payment | $4,778 | $4,895 | $5,807 |
* 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.