Affordable Housing? 55 and over condos? Huge apartment complex? Take your pick!A lack of rental properties in Montville and our area makes this a golden opportunity for a developer with vision. This property is in a rare r20m zone which allows up to 18 units per acre!. As a bonus there is already a 30x42 foundation that was to be a townhouse style duplex to get you started! The site is serviced by city sewer which is on the property. With this price and the density allowances your cost per unit can be minimized. You are encourage to do due diligence as I know you would to investigate the amount of uses as well as the amount of units allowed in this zone. Zoning info and maps are in the attachments. This can be the apartment complex that will pay dividends for years' to come.
Frontage:
Municipal Street,Paved Road
Utilities
Electric Available,Cable Available
Lot Description:
Some Wetlands,Treed,Dry,Sloping Lot
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Listing courtesy of Leo Chomen, Signature Properties of NewEng Email: leochomen@gmail.com
636 Route 163 Route, Montville, CT, 06370
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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