LIHTC Advisors
Listed by LIHTC Advisors
Unpriced
Creek Bridge Apartments
Details
APN 026-615-013-000
Property Type Multifamily
Sub Type Apartment Building
Square Footage 27,384
Units 32
NOI $617,493
Occupancy 100%
Tenancy Multi
Class B
Year Built 2007
Buildings 4
Stories 2
Investment Type Stabilized
Ownership King City Arboleda Associates, LP
Multifamily | 32 Units
Marketing description
Creek Bridge Apartments is a 32-unit, 2007-vintage market-rate community in King City, CA - 100% occupied, anchored by a 100% welfare property-tax exemption and an assumable HUD 223(f) loan.
Built in 2007, Creek Bridge offers a buyer of stabilized affordable-aligned multifamily a rare combination: 2007 construction, a defensive 2BR/3BA family floorplate, and a 100% welfare exemption that has historically held real-estate tax expense to under $300 of annual cash cost.
Investment highlights
- 11.2% Proforma Y-o-Y NOI lift to $617K with no rehab program.
- 100% welfare property-tax exemption.
- Assumable HUD 223(f) loan with $2.15M balance.
- 2007 construction · two-story stucco · clay tile roof.
- Durable 10-year cash flow on a defensive floorplate.
Listing Contacts
LIHTC Advisors
Listed by LIHTC Advisors
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$617,493.00
$51,457.75/mo
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