River Grove Senior Village

3411 Washington Street, Wisconsin Rapids, WI 54494
Status: Closed
Year Built: 2002
Price: $1,200,000
Price Per Unit: $50,000
Price Per SF: $56.20
# of Units: 24
# of Buildings: 3
Rentable SF: 21,353
Lot Size: 5.03 Acres
Density: 4.77 Units/Acre

Parking: 1

Quick Stats:

  • Senior LIHTC Property with Strong Historical Occupancy
  • Senior Living Community with Various Amenities Including a Community Room & Attached Garages
  • Wisconsin Rapids is Located in the Wood County MSA which has a Population of 74,749
  • Excellent AMI Growth Seen in Wood County, with Nearly a 13.5% Increase Since 2014

Description:

River Grove Senior Village is a 24-unit senior housing community for ages 55 and older and persons with disabilities located in Wisconsin Rapids, WI. The property is conveniently located close to area amenities, including shopping, restaurants, parks, and health care facilities.

River Grove Senior Village was built and placed in service in 2002 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all 24 units to be rented to income qualifying residents earning 30%, 40%, 50%, or 60% of Area Median Income (AMI) limits, which are provided by Wisconsin Housing and Economic Development Authority. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordable housing units and to fulfill all requirements of the existing regulatory agreements.

River Grove offers one and two bedroom townhome style units featuring fully equipped kitchens with a dishwasher and disposal, washer & dryer connections, large closets, air conditioning, attached single car garages with opener, and private front porches. Community amenities include access to a community room with fireplace, dining room and library.

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