2008 garden style construction with 40 units total, comprised of 24 one-bedroom and 16 two-bedroom apartments.
While currently operated as a LIHTC senior housing project with only 5 years remaining in the Home Funds compliance period, rents are well below current restriction ceilings, offering the next investor the ability to push revenue significantly while remaining in compliance.
Opportunity to double rents and transition to a conventional model once the compliance period ends with a market comp in Walnut Ridge next door already achieving $1,400/month.
Conveniently located just 13 miles from downtown Greenville in a high growth area with easy access to retail, restaurants and grocery stores.