Developmental Pathways III includes three single-family properties that will be offered for public sale on October 30, 2024, at 11 a.m. (local time). The sale will be held on the front steps of the Arapahoe County Administration Building located at 5334 S. Prince St, Littleton, CO 80120. The location of the sale can be moved by an oral announcement of the Foreclosure Commissioner on the day of the sale.
Written bids will be accepted no later than two (2) business days prior to the date of the Foreclosure Sale. Mail bids to: Thomas Kelly Derryberry, Peaseley & Derryberry PLC, 504 Autumn Spring Court, Suite 26, Franklin, TN 37067 by October 28, 2024, at 11:00 am (local time).
Virtual Tour: To give interested parties additional information and view portions of the Property, HUD will have a virtual tour available. Tour is available at the link below. Not all areas of the Property may be available for viewing.
The properties included in the sale of Developmental Pathways III are as follows:
- Parcel A - 1179 S. Lima Street, Aurora, Colorado 80012
- Parcel B - 5889 S. Sherman Way, Centennial, Colorado 80121
- Parcel C - 7021 S. Ash Circle, Centennial, Colorado 80122
The properties were previously used as group homes, but the purchaser may determine their future use with no use restrictions. The minimum bid is currently unstated, and bidders are encouraged to thoroughly review previous participation certification requirements, terms, conditions, and necessary forms to submit a complete and responsive bid prior to participating in property sale. Additional property information is as follows:
- 6 bedrooms each
- 2 bathrooms each
- All properties include a patio/deck
- Each property feature a covered porch
- City water/sewer/garbage
- Each property has a fenced backyard.
Potential bidders assume the responsibility to thoroughly research the property to reach their own conclusion as to physical condition, number and occupancy of revenue-producing units, estimates of operating costs, repair costs (where applicable), and any other factors bearing on the valuation of the property.
Sale details are available at https://www.hud.gov/program_offices/housing/mfh/pd/mfplist. For more information, contact Julie Hutcherson at [email protected].
Why does HUD have Multifamily Properties for Sale?
HUD’s Federal Housing Administration (FHA) has programs which insure mortgages or provide direct loans on multifamily properties. When a mortgagor defaults on a loan insured by FHA, the mortgagee can assign the mortgage to HUD and receive the benefits of the FHA mortgage insurance. The mortgage then becomes a HUD-held mortgage, and if the mortgage cannot be reinstated, HUD Multifamily Property Disposition forecloses on the property. For more information about HUD and its available programs, visit www.hud.gov.