Rare HAP Opportunity – Stable Rental Income with Guaranteed Payments 

Northside Residential presents a unique opportunity to leverage the project-based Housing Assistance Payments (HAP) program, providing stable and guaranteed rental income. The HAP program subsidizes a portion of the tenants’ rent, ensuring a consistent cash flow for the property. This feature adds a layer of security and stability to the investment, making Northside Residential an attractive opportunity. 

20-Year Renewal Contract with Annual Rent Increases 

Northside Residential has recently signed a new 20-year ‘For Mark- Up-To-Market’ Project contract effective from 1/1/2023. This renewal contract includes an initial budget authority increase of $28,491 and additional funding for subsequent annual rent increases. With annual rent increases typically ranging from 2-5%, this contract offers a predictable and growing revenue stream for the property. 

Offered at a Solid Basis Relative to the Market 

Northside Residential is competitively priced relative to the market, providing investors with an attractive basis for potential returns. With a solid market position and favorable pricing, this property presents an excellent opportunity to achieve strong investment performance.