Listed by Braden, Braden & Braden CRE
$12,000,000
Ivy Chase Apartments
Details
APN 074074-00028
Property Type Multifamily
Sub Type Apartment Building
Square Footage 135,320
Units 171
Cap Rate 7.27%
NOI $872,801
Occupancy 85%
Pro-Forma Cap Rate 10.31%
Pro-Forma NOI $1,237,612
Price per SqFt $89
Class C
Year Built 1973
Buildings 17
Stories 3
Acreage 5.520
Zoning CMU-1
Parking Spaces 350 spaces
Parking Per SqFt 2.59
Ownership Fee Simple
Multifamily | 171 Units | $70,175/unit
Marketing description
The Ivy Chase Apartments offers a value-added opportunity to investors through improved operations and stabilization. The property is a Section 42 LIHTC complex, and its townhouse and flat-styled apartments are fully occupied. Due to its last renovations taking place in 2006/2007, its potential is tremendous.
Listing Contacts
Listed by Braden, Braden & Braden CRE
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$872,801.00
$72,733.42/mo
Valuation Metrics
0
DSCR
7.27%
Cap Rate
7.27%
ROI
Map
Zoning
CMU-1 CommercialNeighborhood CommercialCommercial Mixed Use 1
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View all 168 uses
View all 168 uses Last updated Apr 15, 2026 For deeper zoning details, reports are available at Zoneomics
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