Investing In A Chuch
Not sure if this is weird or not but just curious to get other investors opinions out there. There is a church for sale in my area which they are advertising as a single family home. Here is the add. Charming brick church built in the 1850's, historic assembly of god, this church oozes of beautiful stained glass windows, pretty ornate pews, 4820 sq. ft. featuring sanctuary, plus 2 offices and large foyer on main level, downstairs consists of ktichen, 2 bathrooms, several classrooms and nursery/meeting room. Lots of history on file.
2 Bathrooms Beautiful Stained Glass Windows Built in the 1850's Kitchen in Downstairs
Lots of History on File Ornate Pews $64,900
Would any of you investors out there ever consider turning a large chuch like this into apartments? Would this be a bad investment or maybe just morally wrong. Just want some opinions and not sure how much it would cost to actually do this either.
yeah, I'd do this kind of deal. But a lot depends on location. I didn't do it but they converted a church just a few blocks from me to apartments last year. Is this in Virogua?
You're looking for a place where there's a "artistic" population big enough to support such unusual uses, although things other than apartments are available.
A buddy bought a baptist church and sold it to Hindus once. The Baptists knew the hindus wanted it but couldn't bring themselves to sell to heathens. So instead they sold it to the Jewish guy, who promptly flipped it to the Hindus.
What a country!
This is actually in Richland Center. I have an apartment building in Richland Center now and it seems to rent really quickly. Do you have any idea what a project like this would cost. In this size of church, how many apartments would you make?
Great topic! We just sold our church & we are now renting it back. Our new landlord is renting the building to other churches when we are not using it...cash cow! Because of unfriendly church zoning laws where I live, churches have a difficult time building from scratch. The result is a lot of churches looking for places to worship with ample parking & facilities.
If the numbers looked good. i would go for it. Try contacting some churches that meet in schools or industrial parks & see if they would like to rent the sanctuary for 1-2 days a week. Lease w/option to buy would be a good way to test the waters.
God Bless
I agree with fdi. I would run an add or go visiting potential buyers and or renters before I would sink a load of money in converting to apartments. I always see signs at schools on sundays stating that there church meets there. most churches start small and meet in inexpensive buldings (schools) until they get large enough and raise enough money to get there own building. My church right now has a "sister church" and they are meeting at a school until they can find a building to worship in, there are not many vacant churches in my area. plus if they are late on rent you can quote "let no debt remain outstanding" from the Bible, that should get them to pay on time.
This is kind of weird - I was just mulling over last week how one would convert an old, small church into a SFR (I mean interior space wise).
It does seem somehow "wrong" to turn a church into apartments. I can't put my finger on why - except it's turning you a profit? Can't put a finger on it.
But it does sound neat - and you really cannot beat that price for a building that large.
Conversion to apartments might require a change of zoning. Suggest you see what uses are permitted under current zoning. If a change of zoning would be necessary, then see what use(s) the town would like to see at the site.
There is precedence for church conversions in other countries. For example, England is becoming less church going. Consequently, some parishes are being closed. I saw one conversion (only from the outside, however) in London. A small addition had been added to the front. It had a small front yard, which is not common (at least in that part of London); perhaps it was the old graveyard. No grave markers were present, tho.
Make sure you have it grounded with properly sized lightening rods and grounding wire, etc... there may be more interest up there than usual!