This 9 acre parcel has some crazy potential! Zoned multi family it can receive approval for up to 79 units. Hang on, there is more. A single family home on this lot is currently rented, below market value, by some nice folks. It ain't the Taj but has some neat out buildings and can bring in some income while you are getting your project underway. Incredible potential for a savvy developer to feed off the housing shortage in our area.
Frontage:
Municipal Street,Paved Road
Utilities
Electric Available,Gas Available
Lot Description:
Lightly Wooded,Treed,Cleared,Rolling
Copyright ©2024 SmartMLS, Inc.
Listing courtesy of Monica Obuchowski, Signature Properties of NewEng Email: MonicaORealtor@gmail.com
23 West Street, Norwich, CT, 06360
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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