Is a CC&R Enforceable with no current HOA?

[Troy P.]

Hello BP Community,

I'm looking to purchase a buy and hold property in a small townhome community that was build around 1984, has a CC&R document from 1983, but no current active HOA dues and enforcement. After perusing the document, the majority of the other townhomes appear to be abiding by the restrictions and seem to be well kept. My question is, is a CC&R document alone enforceable? Would it be wise to invest in an area that could quickly take a bad turn and have homes slowly depreciating in value? I'm assuming the HOA has been inactive for quite some time, but cannot be sure. TIA!