Senior World
Senior World | 20 Units | Evansville, IN
Marketing description
Senior World is a 20-unit affordable housing community offering investors stable, government-backed cash flow through a long-term Project-Based Section 8 (HUD) Housing Assistance Payments (HAP) contract with approximately 12 years remaining. Built in 1983, the property features an efficient unit mix of twenty one-bedroom, one-bathroom apartments averaging approximately 566 square feet, providing an easy-to-manage asset with predictable revenue, historically high occupancy, and reliable collections supported by 100% project-based rental assistance.
Ideally located on the east side of Evansville, Senior World offers convenient access to Interstate 69, major retail corridors, healthcare providers including Deaconess Health System and Ascension St. Vincent Evansville, and a diverse employment base anchored by employers such as Toyota Motor Manufacturing Indiana, Berry Global, and the University of Evansville. As the economic center of the Tri-State region, Evansville continues to benefit from strong demand for affordable housing, while the property presents an opportunity for operational efficiencies through strategic expense management under new ownership, supported by resilient occupancy and long-term affordable housing fundamentals.
In Association with Scott Reid & ParaSell, Inc. | A Licensed Indiana Broker #RC51900187
Investment highlights
- 20-Unit Project-Based Section 8 (HUD) Community offering stable, government-backed rental income supported by long-term affordable housing fundamentals
- Purpose-Built Affordable Housing Asset Built in 1983 featuring twenty 1-bedroom/1-bath units averaging approximately 566 SF, providing an efficient and easy-to-manage unit mix
- Reliable Cash Flow supported by a long-term Housing Assistance Payments (HAP) contract, helping insulate ownership from many of the risks associated with conventional multifamily assets
- Operational Improvement Opportunity through strategic expense management and professional ownership, while maintaining stable occupancy and government-supported revenues. New ownership can benefit from consistent demand for affordable housing and historically resilient occupancy through multiple economic cycles
- Long-Term HAP Contract with approximately 12 years of remaining term
- 100% Project-Based Rental Assistance, providing predictable and reliable revenue streams
- Historically High Occupancy supported by strong demand for affordable housing
- Proven Collection Stability due to government-backed rental payments
- Convenient Evansville East Side Location with immediate access to Interstate 69, major retail corridors, and everyday amenities
- Located Minutes from Major Healthcare Providers, including Deaconess Health System and Ascension St. Vincent Evansville
- Supported by a Diverse Employment Base, anchored by major employers including Toyota Motor Manufacturing Indiana, Deaconess Health System, Berry Global, and the University of Evansville
- Evansville Serves as the Economic and Commercial Hub of the Tri-State Region, drawing residents and employment from Southern Indiana, Western Kentucky, and Southeastern Illinois
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