Photo Gallery
Property Overview
Doc Center
Privacy
Terms of Use
401 E. Washington Ave. - Bessemer City, NC 28016
PROPERTY Stats
33
UNITS
1930 & 1960
Year Built
XXX
sF
PROPERTY OVERVIEW
Central School Apartments is a 33-unit affordable housing community located in Bessemer City, NC. Shopping, restaurants, outdoor recreation, including Crowder’s Mountain State Park, schools, and major transportation arteries are all minutes away. Bessemer City is located approximately 6 miles northwest of Gastonia, and 25 miles west of Charlotte, offering an abundance of additional amenities for residents to enjoy.
The property was built in 1930 and 1960, subsequently rehabilitated and placed in service in 2008 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 40%, 50%, and 60% of Area Median Income (AMI) limits, which are provided by the North Carolina Federal Tax Reform Allocation Committee and the North Carolina Housing Finance Agency. The property is beyond the initial compliance period.
Central School Apartments offers one, two, and three bedroom apartments that include a range/oven and refrigerator. Community amenities include an on-site laundry facility, computer room, and gazebo.
Central School Apartments, formerly known as Bessemer Elementary School, was listed on the National Register of Historic Places in 2008.
Multifamily LIHTC Property Offering One, Two, and Three Bedroom Apartments
Bessemer City is Located 25 Miles West of Charlotte, Providing Residents with Access to Shopping, Dining, Employment, and Entertainment Options
Excellent AMI Growth in Gaston County, with an Increase of 38.73% Since 2018
Gaston County is Home to Crowder’s Mountain State Park, North Carolina’s Most Visited State Park
INVESTMENT HIGHLIGHTS
Contacts and Office Locations
BACK TO TOP
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
Photo GALLERY
Contact
Property Overview
Investment Highlights
Photo Gallery
Doc Center
Contact
Terms of Use
Privacy
Investment Highlights
Jeff IRish
Senior Managing Director
Affordable Housing
208.286.5013
jeff.irish@berkadia.com
INVESTMENT ADVISORS
Adam Tomberg
Director
Affordable Housing
425.999.1152
adam.tomberg@berkadia.com
Photo GALLERY
BACK TO TOP
774 South Shelmore Boulevard
Suite 105
Mount Pleasant, SC 29464
Mount Pleasant OFFICE
Managing Director
Multifamily
843.628.3765
mark.boyce@berkadia.com
MArk Boyce
Managing Director
Multifamily
843.628.3765
mark.boyce@berkadia.com
MArk Boyce
Director
Affordable Housing
425.999.1152
adam.tomberg@berkadia.com
Adam Tomberg
Senior Managing Director
Affordable Housing
208.286.5013
jeff.irish@berkadia.com
Jeff IRish
INVESTMENT ADVISORS
774 South Shelmore Boulevard
Suite 105
Mount Pleasant, SC 29464
Mount Pleasant OFFICE
6225 N. Meeker Pl.
Suite 210
Boise, ID 83713
BOISE OFFICE
774 South Shelmore Boulevard
Suite 105
Mount Pleasant, SC 29464
Mount Pleasant OFFICE
