Cedar View Apartments

1701 Highway 180 West, Mineral Wells, TX 76067
Status: Available
Year Built: 2005
Price: CONTACT AGENT
# of Units: 72
# of Buildings: 19
# of Stories: 1
Rentable SF: 72,064
Lot Size: 20.01 Acres
Density: 3.60 Units/Acre

Quick Stats:

  • Existing LIHTC Family Property Placed in Service in 2005
  • Approximately 10 Acres of Additional Land Available for Future Development
  • Roofs and Access Gate Replaced Providing for Few Additional Capital Improvements
  • Mineral Wells is Conveniently Centered at the Intersection of U.S Highways 180 and 281 Just 45 Miles West of Fort Worth, Texas & Interstate 20 is Just 15 Minutes to the South, Providing Easy Transportation Access
  • Historical Vacancy of Less Than 2.0%

Description:

Cedar View is a 72-unit affordable housing community located in Mineral Wells, TX. The property is in close proximity to the Palo Pinto General Hospital, restaurants, numerous churches, the U.S. Post Office, and various retail amenities such as a Wal-Mart Supercenter and Dollar General.
The property was built and placed in service in 2005 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires units to be rented to income qualifying residents earning no more than 30%, 40%, 50%, and 60% of Area Medium Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs. The property is still within its initial tax credit compliance period and has extended use restrictions until 2045. Historically Underutilized Business (HUB) requirement has been removed per an amendment to the TDHCA Land Use Restriction Agreement.
Residents benefit from well maintained grounds, clubhouse, fitness center, playground, on-site laundry facilities, on-site management, and computer room. Unit amenities include a full appliance package, washer & dryer hook-ups, extra storage, and patios.

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