The subject property contains 32 Single Room Occupancy units plus one Retail space. The residential units were formerly covered by a Sec. 8 Moderate Rehabilitation Single Room Occupancy Program for Homeless Individuals. The property is currently vacant.
This investment is an excellent opportunity for the following buyers -
An agency that needs housing for individuals on a short term or long term basis . This could be for homeless individuals, victims of domestic violence, disaster victims, veterans or seniors that need affordable housing.
Developers that partner with these type of agencies or with charitable organizations.
Entities seeking affordable housing for their area residents
SRO seasoned operators that have a steady stream of tenants that are looking for single room occupancy units
Multifamily owners seeking to repurpose the property