Once in a life time opportunity to buy a 24 unit complex. This is a USDA loan program complex which means the buyer would be purchasing the current partnership that owns the complex and would have to keep the partnership until 2034 when the mortgage is paid off and you would have complete control over the buildings and rent. Currently the federal government controls the rent which is between $620-772 for a one bedroom and $655-$812 for a two bedroom. There is a reserve fund that will also go with the partnership. Current balance is $180,000 and can only be used to improve the buildings and complex. After the 2034 the funds become the property of the owner.
Listed by Robert W. Siebenaler of WEICHERT REALTORS®-Carnel & Co.

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  "Based on information submitted to NORTHSTAR as of October 5, 2022 10:31 AM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing."

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