Potential Tax Credits - Affordable Housing or SRO Conversion Opportunity

Located just to the South of Highway 60, the Property is located near significant retail establishments and to the immediate east of the Pigeon Pass and Sunnymead intersection.POTENTIAL TAX CREDITS - OWNED FOR MORE THAN 10 YEARS BY SELLER. Currently an operating La Quinta Inn, the property is a Potential Conversion of the Existing Hotel to Affordable Housing or SRO Permanent Housing. The Current Zoning may allow the Conversion to Affordable/SRO Housing Per the City of Moreno Valley Planning Department, with a CUP (Please see enclosed Zoning/Conversion Section) Built in 2009 and situated on an approximate 1.36-acre concrete lot, the Property is comprised of 62 rooms and is three-story in nature with approximately 29669 square feet of construction.