52 unit senior community garden apartment complex with 100% HAP contracts that includes the right to request annual increases based on the market, a 60 day vacancy reimbursement, the county provides the tenants and a tax abatement is available to waive ad valorem taxes. The government contract is a 15 year agreement which will be renewed in 2031. The existing cap rate is 6.7%. This beautiful 2 two story Seniors 55+ ONLY complex has new roof, new asphalt and much more. Units come with range, refrigerator plus Many safety features including Closed Circuit cameras and security gates. Close to down town, Saint Joseph's Medical center, Shopping centers and Parks!! See brochure in docs area!
All measurements and all calculations of area (i.e., Sq Ft and Acreage) are approximate. Broker has represented to MetroList that Broker has a valid listing signed by seller authorizing placement in the MLS. Above information is provided by Seller and/or other sources and has not been verified by Broker. Copyright 2019 MetroList Services, Inc.
Listings marked with V* indicate the seller is willing to entertain offers within a Listing Price range. For example, a Price of $140,000-$170,000 indicates the seller will entertain offers from $140,000 to $170,000.
Listing information last updated on October 13th, 2019 at 3:36pm PDT.