HUD INTENDS TO BID THE AMOUNT OF THE INDEBTEDNESS AT THE FORECLOSURE SALE:
This apartment complex is located on approximately 16.29 acres and is comprised of 30 buildings offering 340, one, two, three and four bedroom units. The complex is vacant.
A $100,000 Earnest Money Deposit is required for bidding at the foreclosure sale.
A $330,000 Letter of Credit required at closing to ensure demolition.
The foreclosure sale does not include any tenant or project-based Section 8 rental assistance.
Interested parties are urged to review the Invitation to Bid (bid kit) prior to submitting a bid at the foreclosure sale. The project is being sold "all-cash", "as-is"; HUD is not offering financing with this sale. HUD does not own or operate this facility and cannot grant access for viewing. Viewing is at the discretion of the current owner/management agent.