$9 million Denver hotel available for $10

[TerryRohrer]

Denver hotel that sold for $9m months ago is now on the market for just $10​

A covenant requires the buyer to use the building for income-restricted housing for 99 years.

Denver hotel that sold for $9m months ago is now on the market for just $10

A covenant requires the buyer to use the building for income-restricted housing for 99 years

www.independent.co.uk

 

[Trihard]

Denver hotel that sold for $9m months ago is now on the market for just $10​

A covenant requires the buyer to use the building for income-restricted housing for 99 years.

Denver hotel that sold for $9m months ago is now on the market for just $10

A covenant requires the buyer to use the building for income-restricted housing for 99 years

www.independent.co.uk

Has to be used for homeless housing for 99 years. Not worth.

 

[shrubberyvaluation]

Denver hotel that sold for $9m months ago is now on the market for just $10​

A covenant requires the buyer to use the building for income-restricted housing for 99 years.

Denver hotel that sold for $9m months ago is now on the market for just $10

A covenant requires the buyer to use the building for income-restricted housing for 99 years

www.independent.co.uk

I'm assuming the rent won't cover expenses + taxes. Plus will be near impossible to evict them because they are vulnerable.

 

[Tom D]

We should buy it as a group. It may become the home for most of us in 2 years. The agged appraiser homeless group condominiums.

 

[Terrel L. Shields]

It may become the home for most of us in 2 years. The agged appraiser homeless group condominiums.

It would be better in some better town. You know, maybe Wichita, KS, West Plains, MO, or, perhaps Birmingham, AL - you know some place nice compared to Denver.

 

[Mark K]

I'm assuming the rent won't cover expenses + taxes. Plus will be near impossible to evict them because they are vulnerable.

If you could put it in the Section 8 housing program it would turn into a major cash cow!

 

[Tom D]

Senior housing would be the brilliant idea. Them people, at least, don't destroy the units. A building full of sec 8 tenants is not my thought of a pleasant business experience.
I've seen sec 8 get increased in certain neighborhoods which then destroyed that neighborhood.