Investment Overview

The apartments located at 86 Richardson Road, Chelmsford MA are comprised of 16 one-bedroom apartments in a two-story building with an elevator built in 2001. Built with a $550,000 grant through DHCD the Buyer must meet their approval and assume the affordability restrictions that run with the property. The tenants must be 55 plus in age and their income cannot exceed 80% of the Area Median and will increase to 100% in 2021. The grant has no payments due and must be assumed by the new Buyer in addition to the price. It will subordinate to new debt placed on the property and expires along with the affordability restrictions in June 2031.


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INSTRUCTIONS FOR VIEWING:

First drive by the Property and view the exterior. DO NOT speak to the Owner, Owner's representative or Owner's tenants without a UMF Associate present. Especially in the event they are present during your initial drive by. If you are interested in the property after your initial drive by please contact the UMF listing associate to schedule an appointment.

All information furnished regarding property for sale or lease is from sources deemed reliable, but no warranty or representation is made to the accuracy thereof and same is submitted to errors, omissions, change of price,rental or other conditions, prior to sale or lease, or withdrawal without notice. United Multi Family makes no warranty or representation about the content of this brochure. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property.