HUD Section 8 (HAP Contract) property for sale in Philip, SD! Parking lot included in sale. Unit Mix: Sixteen (16) one-bedroom/one-bathroom units. Three (3) commercial spaces. Owner Responsibility: Electric, water, sewer, trash removal, repairs/maintenance, and snow removal. Tenant Responsibility: Phone, cable, and internet. Unit Amenities: Stove, refrigerator, air conditioner, electric baseboard heat, and carpet/vinyl floor coverings. Property Amenities: Community room, main floor laundry room, elevator, onsite property management office, and off-street parking. Section 8 Coverage (# units / %): 16 units / 100%. Section 8 Contract #: SD99-H001-070. Renewal Option: Option 4. Term / Expiration: 20 Years / May 31, 2040. Elderly / Family: Elderly. Management Occupancy Review (MOR): Above-Average (July 2025). NSPIRE: 98 (February 2025). 100% Project-Based Section 8 rental subsidy. Three (3) Commercial Tenants: Daymond Lurz ($350/month), State Farm Insurance ($340/month), and Elizabeth Boardman ($300/month). The Senechal Apartments are being offered as part of a portfolio transaction and must be acquired together with the Riverview Townhouses, located at 302 E. Pine Street, Philip, SD 57567. Please contact the listing broker for additional details. Jeff Brooks is a licensed real estate broker in the State of South Dakota and part of the selling entity.
