Photo Gallery
Property Overview
Doc Center
Privacy
Terms of Use
1735 S. Sheridan Ave. - Sheridan, WY 82801
PROPERTY Stats
60
UNITS
2003
Year Built
64,540
sF
PROPERTY OVERVIEW
The Courtyards at Sheridan is a 60-unit affordable housing community located in Sheridan, WY. The property is conveniently located minutes from major retailers including Walmart Supercenter, The Home Depot, and Albertsons. Numerous restaurants, outdoor recreation, schools, and major transportation arteries, including I-90, are nearby as well.
The property was built and placed in service in 2003 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 30% and 50% of the Area Median Income (AMI) limits, which are provided by the Wyoming Community Development Authority.
The Courtyards at Sheridan offers two, three, and four bedroom apartment homes. Each apartment home includes air conditioning, a private balcony or patio, a washer and dryer hookup, extra storage, and kitchens that come equipped with a gas range, refrigerator, dishwasher, disposal, and microwave.
The community offers a plethora of amenities for residents, such as a community room with kitchen, playground, exercise room, computer room, picnic area, basketball court, laundry facilities, business center, off street parking, and on-site management and maintenance.
Straight forward rental upside by increasing existing tenants to the current asking rents, which have been proved out on recent new move-ins
The property has historically performed very well, as evidenced by a vacancy rate below 2.0% over the trailing-12 months
There is an existing HOME Loan on the property with very attractive terms including a 0% interest rate and 40 year amortization schedule
Sheridan County is a high-income area with the 2023 HUD Median Family Income at $107,600, up from $81,100 in 2021
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
TOM BRADLEY
Local Broker
Real Estate Energy Solutions, LLC
WY RE License #12324
MORTGAGE BANKER
Jordan Skyles
Director
Affordable Housing
208.631.4981
jordan.skyles@berkadia.com
Photo GALLERY
BACK TO TOP
Managing Director
Multifamily
503.261.3668
fred.dockweiler@berkadia.com
FRED DOCKWEILER
INVESTMENT ADVISORS
INVESTMENT ADVISORS
Senior Managing Director
Affordable Housing
253.653.3313
brandon.grisham@berkadia.com
Brandon Grisham