Investment Highlights

  • All units are subsidized by a 20-year Section 8 HAP contract until March 2032. Rents are eligible for Mark-up-to-Market every five years with the next Mark-up available in March 2022 and again in March 2027
  • Very favorable cash flow and residual value splits up to 90% payable to the general partnership interest
  • Financed with a HUD 221(d)(4) mortgage prepayable without penalty after November 1, 2022
  • Strong historical occupancy above 97% for the past three years
  • A mix of two-, three-, and four-bedroom units feature a self-cleaning oven and air conditioning
  • Community amenities include a business center, clubhouse, fitness center, barbecue and picnic area, playground, and leasing office
  • Recent capital expenditures include trenches added to buildings G and I for drainage work in June 2020

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