Nevada

Overton Apartments | Overton, NV

Loan Amount: $230,000

Developer: American Covenant Senior Housing Foundation, Inc.

The Overton Apartments is a 20-unit multifamily development providing 20 affordable housing units (100% of total) restricted to tenants with household incomes not exceeding 50% of the area median income, featuring one-bedroom units in 10 duplex buildings for seniors 62+. It targets senior households, offering rent subsidies from the Rural Development Association for all units, with a focus on rehabilitation to preserve affordable senior housing. The property is unique for its rural location and extended term financing to match USDA loan maturity, up to 30 years with rate resets.

Units: 20