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13 SW 8th Pl.- Williston, FL 32696
PROPERTY Stats
72
UNITS
2006
Year Built
76,512
sF
PROPERTY OVERVIEW
The Arbours at Williston is a 72-unit affordable housing community located in Williston, FL. The property is conveniently located minutes from shopping, schools, and major transportation arteries. The Williston Municipal Airport is nearby as well.
The property was built and placed in service in 2006 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 35% and 60% of the Area Median Income (AMI) limits, which are provided by the Florida Housing Finance Corporation.
The Arbours at Williston offers one, two, and three bedroom apartment homes featuring air conditioning, a washer/dryer, a ceiling fan, a balcony/patio, and kitchens that are equipped with a dishwasher, microwave, refrigerator, ice maker, and disposal.
Community amenities include a clubhouse, concierge, literacy center, playground, swimming pool, volleyball court, two pavilions with grills, a courtesy officer, and on-site maintenance.
Levy County is Experiencing Strong Income Growth as Evidenced by a 15% Increase in the HUD Median Family Income from 2022 to 2023
Williston is Located Just 22 Miles South of Gainesville, Offering Easy Access to Additional Amenities and Services
The Property is Eligible for the National Non-Metropolitan Rent and Income Limits, which Increases Both the Maximum Rental Limits, as well as the Prospective Tenant Pool that can Income Qualify at the Asset
Strong Historical Operations at the Property with a Trailing-12 Month Occupancy Rate of 97.5% and Additional Rental Upside Available as a Result of the 5.89% Increase in the 2023 Gross Rental Limits
INVESTMENT HIGHLIGHTS
CHRIS CRUMP
Managing Director
504.322.1196
chris.crump@berkadia.com
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
6225 N. Meeker Pl.
Suite 210
Boise, ID 83713
BOISE OFFICE
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BRANDON GRISHAM
Senior Managing Director
Affordable Housing
253.653.3313
brandon.grisham@berkadia.com
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mike terry
Director
Affordable Housing
425.761.1640
mike.terry@berkadia.com
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300 S. Orange Ave.
Suite 1500
Orlando, FL 32801
ORLANDO OFFICE
MORTGAGE BANKERS
Senior Managing Director
Multifamily
407.481.2126
cole.whitaker@berkadia.com
COLE WHITAKER
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
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