INVESTMENT OFFERING
SAB Capital is pleased to present an elderly-designated apartment community located on 1.67 acres. Constructed in 1982, the property features a single, well-maintained 7-story building with block and metal foundation with a stucco exterior. The property includes 102 one-bedroom units, ideal for senior living. The community amenities include a laundry room, community room with a kitchen, and 45 onsite parking spots. The property features a HAP contract that covers 99% of the units and runs through January 2034. The most recent REAC inspection conducted in October 2022 resulted in an 86b.
- 99% Project Based Section 8 Subsidy Contract | Renewed Under Option 2 in 2014 for 20 Years
- Age Restricted Tenancy | 100% Occupancy Rate
- Community Amenities: Laundry Room, Community Room with a Kitchen
- 2022 REAC: 86b
| Tenant | Price | Cap Rate | Lease Type | Square Feet | Status |
|---|---|---|---|---|---|
| Elderly Designated Apartment Community | $ | % | 80,052 | Under Contract |
