Properties

Gassville Gardens Apartments

Gassville, AR

Property Type:
Elderly Multifamily
Total Development Cost:
$2,655,043.00
Financing Structure:
Rural Developement, Conventional
LIHTC Units:
40
AMI:
40/60
Market Rate Units:
NA
Completion Date:
2002

Gassville Gardens Apartments is a 40-unit multi-family property located near Highway 126 North in Gassville, Arkansas. The community consists of 8 three-bedroom apartments and 32 two-bedroom apartments. Each three-bedroom apartment is approximately 1,250 square feet and the two-bedroom apartments are approximately 1,145 square feet. In addition, each apartment has its own private entryway with a front porch and back patio.

Each apartment comes equipped with a stove, refrigerator, vent hood, dishwasher, disposal, microwave oven and a central heating and air conditioning unit. In addition a washer and dryer unit is provided in each apartment, as well as ceiling fans. All of the appliances are electric. The property is made up of five, single-story buildings, containing eight units in each building. The exterior is constructed of brick and/or vinyl siding.

The property includes a community facility and a swimming pool all for the exclusive use of the residents.

The Gassville Gardens Apartment Community was built to cater exclusively to elderly individuals. The rent structure is governed by IRS Section 42 Rules and is restricted to residents earning at or below 60% of the area median income.

Preference is shown to qualified residents that are on the Public Housing Authority’s waiting list.