The Montrose Apartments, located in Montrose, SD, were built between 1977 and 1985. The Montrose Apartments consists of three properties: Eastside Manor Apartments (8 units), Rosemont Manor Apartments (8 units) and the Tibio Manor Apartments (8 units). There are 24 units total. Unit features include fully equipped kitchens, vinyl flooring and kitchens, through-the-wall air conditioners and electric baseboard heat. The landlord pays for heat (electric baseboard), water, sewer, garbage, repairs/maintenance and grounds. The Tenants are responsible for phone, cable and internet. The Montrose Apartments were developed under the USDA Rural Development Section 515 Program. The USDA provides project-based Rental Assistance for over 250,000 apartment units throughout the nation. Tenants receiving Rental Assistance pay no more than 30% of their adjusted income for rent. Eligibility is determined by income standards set at the state and county level. The USDA subsidizes over 15,000 section 515 rural multifamily apartment complexes throughout the 50 states, Puerto Rico, the Virgin Islands and Guam. The properties are serviced by approved management agencies who provide required annual tenant certification processing for their residents. The population of Humboldt is 472. Montrose, SD is located in McCook County and is approximately 35 minutes from Sioux Falls, SD, the state's largest city.

Location Description:

Montrose, SD is located in McCook County and has a population of 472 (2010 census).

Highlights:

>> Eastside Apartments - 8 units (104 Clark Street)

>> Rosemont Manor Apartments - 8 units (207 Main Street)

>> Tibio Manor Apartments - 8 units (211 S. 2nd Avenue)

Sales Info:

>> Commision split: 3.0%