USDA BACKED LOW INCOME APARTMENTS FOR SALE
98% LEASED
Marketing description
1 and 2 bedroom units available. 24 units total, 6 separate quadraplex buildings. Almost full occupancy, and the complex has been meticulously maintained over the years. Sellers have had this asset in their family since it was constructed.
Investment highlights
Investment opportunity with tenants in place offering cash flow, this property enrolled in tenant support programs offered by USDA rental housing assistance. 1 and 2 bedroom units available. 24 units total, 6 separate quadraplex buildings. This offering and any subsequent Purchase and Sale Agreement ("PSA") are subject to approval by majority vote from ownership partners with the property. No offer, letter of intent, negotiation, draft agreement, or executed PSA shall be deemed fully accepted, binding, or enforceable until approved and executed by all required ownership parties. Additionally, the property is operated as a USDA subsidized low-income housing complex and is subject to all applicable rules, regulations, restrictions, approvals, and oversight requirements of the United States Department of Agriculture ("USDA") and any associated rural housing or subsidy programs. Any proposed sale shall remain contingent upon USDA review and approval. Seller reserves the right to continue marketing the property, review alternative offers, and negotiate terms until ownership and USDA approvals have been obtained and closing documents are fully executed. USDA restrictions expire 4/16/2031
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