Unique Eight Unit Apartment Building on two levels in Crittenden KY. With easy access to I-75 you are close to everything Northern Ky. has to offer (except the traffic). The 4 units on the left are 2 bedroom with one full bath, and the 4 units on the right are 1 bedroom with one full bath. There is also a common laundry area located on the premises. This complex is a USDA Section 515 development, with a 1% assumable loan program as an option to a qualified buyer. The tenant base is stable with the average rental time per tenant being is excess of 6 years. Rental contracts are for a one year period and are up for renewal on the anniversary date of original rental. Tenant rents are based on an income formula by USDA and are not subsidized. Tenants pay for own electric and landlord pays for water, sewer, and trash. USDA Section 515 information is available upon request. Purchaser is not locked in to USDA requirements as leases renew unless they choose the Section 515 purchase option.
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