BACK ON THE MARKET DUE TO BUYERS FINANCING FALLING THROUGH.
7 Streams Commercial Group is proud to present the opportunity to acquire El Dorado, Ltd, a 34-unit affordable housing community located in Uvalde, Texas just steps away from employers, education and retail amenities.
The community comprised a standalone professional leasing office, 8 four-plexes, and 1 duplex. Plenty of parking with 68 paved parking spots. Each unit is individually metered and equipped with electric HVAC and hot water systems. All AC units were replaced in the last two years and are still under warranty. There is also additional acreage for the development of additional multifamily units as the property sits on just over 4 of 6 acres.
El Dorado, Ltd stands as an excellent opportunity to add to a Low Income Housing Tax Credit (LIHTC) portfolio, serving the residents of the City and County of Uvalde with safe, affordable housing options. The property is also subject to a Housing Assistance Payment (“HAP”) Contract that must be assumed by the Buyer. The current HAP contract run through 2037. There is no underlying debt to assume so the potential Buyer/Investor may place new financing on the property.
Located 86 miles west of San Antonio and 70 miles east of Del Rio, Uvalde County is home to a population of around 27,000 residents. Uvalde is now a Federal Enterprise Community And Empowerment Zone, which means qualifying companies can receive up to $3,000/person in Federal Employment Tax Credits. This city is also home to an unusually well-developed airport for a small town. This airport serves as a hub for three jet renovation companies. Uvalde is also home to Southwest Texas Junior College which enrolls about 6,000 students and is steps away from the complex.
