Property ID: #5734
For Sale
SOLD - Two Community Multi-Family Affordable Housing Portfolio

SOLD – Two Community Multi-Family Affordable Housing Portfolio

176-Unit Four Community Multi-Family Affordable Housing Portfolio

FOR SALE - Two Community (96 Units) Multi-Family Affordable Housing Portfolio

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Portfolio Highlights:

  • 7.75% overall in-place cap rate based on T-12 Net Operating Income
  • Complimentary in age with all communities built between the years of 2000 and 2003
  • Stabilized affordable housing portfolio with 97% – 100% occupancy and overall weighted occupancy of 98.9%!
  • Potential value-add exit strategy for investors looking to take properties market rate once 15 year tax credit compliance period expires and rent restrictions lifted
  • $100+ Competitor Rent Gap Market versus Affordable Gives Way To Further Renovation Premium Growth
  • Best In Submarket compared to other rental properties
  • Connectivity Advantaged to major transportation corridors throughout each metro area with close proximity to downtown

Cedar Key Apartments (SOLD) – 48 Units 246 Pidgeon Bay Rd. Summerville, SC 29483
Pine Hill Apartments (SOLD) – 48 Units 1650 Royal Pines Dr. Raleigh, NC 27610

Exclusive Agent:
Jeff Searcy

Property Flyer

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