OfflineHi. Not far from where i work there is an abandoned apartment complex that’s been boarded up for about 10years. I went to the county site and looked up the owner who's about 85years old and probably doesn't even know what to do with it anymore. I also found some information about the property. There are 3 2story buildings on 2lots with 30 apartment units(10 units in every building).My issue is that I can't get the assess value of the complex because it is the only one in the area. The rest of the neighborhood is low income houses. My main interest is to obtain the property, and sell it to the city's Section 8,HUD, or Public Housing Program. Because I noticed that the demand for public assistant and low income housing is rising in the city. More and more people are out of work and even more have experienced Foreclosures. Therefore, they must turn to government living assistance programs.
Information About The Complex:
Building A_Heated Sq Ft: 6,464
Building B&C(connected)_ Heated Sq Ft: 12,592
Year Built: 1966
Effective Year Built: 1972
Total Appraisal Values
Building Land Total Assessed
$455,000 + $194,300 = $649,300
Building A: Area Totals: Description Square Feet
Unfinished Basement 1,500
Finished Basement 1,950
Base - Main Floor 6,464
Unfinished Open Porch 576
Finished Open Porch 828
Apartment Units 10
Building B&C: Area Totals: Description Square Feet
Patio 352
Unfinished Basement 6,296
Main Floor 12,592
Finished Open Porch 1,440
Unfinished Open Porch 992
Apartment units 20
Area demographics:
.Majority Population race: Mexican, Asian, African
.Average income: Less than $30,000 a year - $74,999 a year
.Households with children
.High Crime Rate: Range from Larceny Theft To Burglary
.Range of Rent in Renter Occupied Units: Less than $600 a Month, $600 to $900
.Majority of area is a renter occupied area, few people that live in the area own their homes.
So this is my dilemma, I would appreciate any information and advice you could share on this issue.
Where is it located???