East TN Section 515 Multifamily Portfolio
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Government Subsidized, Low-Rise/Garden
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Overview / Comments
SVN | Wood Properties is pleased to present this Section 515 Multifamily Portfolio in East Tennessee. This portfolio consists of nine properties that include 364 units. Each property participates in the section 515 program. Section 515 Rural Rental Housing Loans are mortgages provided by USDA to provide affordable rental housing for low-income families in rural areas. Rental rate increases are determined each year by USDA and many tenants receive rental assistance. There is a critical need for affordable housing in rural America, evidenced by this portfolio's average occupancy of 90%. The current owner has excellent management personnel and infrastructure in place that can remain with the property after the sale.
Please contact Kevin and Cohl for more information. Pricing is subject to offers.
||This portfolio consists of nine separate government-subsidized apartment complexes located throughout East Tennessee. The properties are located in Sevier, Blount, Union, Grainger, and Scott counties.
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