Affordable Housing Opportunity on 1.1 Acres
“Affordable Housing Opportunity on 1.1 Acres – Substantial Fixer-Upper with Land Lease”
Description:
Affordable Housing Property with 1.1 Acres – A Great Fixer-Upper Opportunity!
Located on a spacious 1.1-acre lot, this affordable housing property presents a unique opportunity for those seeking homeownership with potential for improvement. The property is currently under a land lease agreement with Torrington Affordable Homes (TAH), and prospective buyers must meet the TAH income and credit guidelines to qualify, even if they plan to pay with cash. Investor purchases are not allowed, so this opportunity is ideal for owner-occupants who are looking for a project.
The house itself is in need of substantial repairs and is being sold as-is, giving you the chance to make it your own. Whether you are a first-time homebuyer or someone looking for a renovation project, this property provides the perfect blank canvas to create a home that fits your style and needs. Cash or rehab loans only are accepted due to the necessary repairs, and even with a cash offer, TAH requires a construction loan to ensure that the property will be properly repaired.
Key Features and Considerations:
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1.1-acre lot offering plenty of outdoor space for future expansion or gardening.
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Land lease agreement with Torrington Affordable Homes (TAH), subject to their income and credit qualifications.
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The house needs substantial repairs, allowing for a personalized renovation.
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City sewer is available in the street, but the property is currently using septic. Connecting to the city sewer may be an option for future improvements.
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No investor purchases allowed, so this property is ideal for buyers looking to occupy the home themselves.
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The seller will make no repairs—this is a true fix-and-flip or renovation project.
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Cash or rehab loan options only for potential buyers.
This affordable housing opportunity offers the chance to create a beautiful home on a generously sized lot, all while meeting the criteria set forth by Torrington Affordable Homes (TAH). If you are looking for a property where you can make significant improvements and build equity, this is the perfect opportunity.
Don’t miss out on this chance to transform this house into your dream home—contact us today to schedule a showing and take the first step towards homeownership!
From Zilloow
