$500,000

Here is a unique investment opportunity. This 3 building, 16 plex consists of an 8 unit and 2 - 4 unit buildings. Each are 2 bedroom, 1 bath apartments with a common entrance for each building. Rent is currently below area rate as this complex was financed by several community minded people with rent control financing to provide low cost housing in the community. The rent control contract has expired and the owner group would like to pass on the management to someone else. Since the expiration of the contract, rent has been increased for new tenants. The property contains a large area that would allow for a 4th building to be constructed. Offers must be delivered to the listing agent by July 15, 2026 at 5:00pm Central Standard Time. Listing agent will hold all offers as "sealed" until the next meeting of the Board of Directors. At such time, the board shall open and duly consider each offer presented. The Board reserves the right to decline, accept, or counter any offer. The Board also reserves the right to call for "highest and best" between competing offers. The final acceptance of a Purchase Agreement shall be at a date, not specified here, at the direction of the Board. Final closing date shall be negotiated between the Seller and Buyer. All 16 apartments are Section 8 eligible.