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901 Colleton St. - Columbia, SC 29203
PROPERTY Stats
200
UNITS
1970/2000
Year Built/Reno
162,400
sF
PROPERTY OVERVIEW
Gable Oaks Apartment Homes is a 200-unit affordable housing community located in Columbia, SC. The property is conveniently located minutes from major retailers including Walmart Supercenter and Trader Joe’s. Numerous restaurants, outdoor recreation, schools, and major transportation arteries are nearby as well.
The property was built in 1971 and rehabbed and placed in service in 2000 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 60% of the Area Median Income (AMI) limits, which are provided by South Carolina State Housing Finance and Development Authority.
Additionally, the property is also a recipient of HUD Section 8 project based rental income assistance pursuant to a Housing Assistance Payment (HAP) contract. The current contract has an effective beginning date of November 1, 2016 and provides assistance for 60 units. Within the contract, Section 2(b) states that the contract runs for an effective term of 20 years.
Gable Oaks Apartment Homes offers one, two, and three bedroom apartment homes featuring high speed internet access and air conditioning. Community amenities include laundry facilities, on site property manager, business center, a clubhouse, fitness center, and playground.
Multifamily LIHTC Property Offering One, Two, and Three Bedroom Apartments
Located Near Area Amenities, Including Shopping, Dining, Schools, Outdoor Recreation, and Major Transportation Arteries
EXCELLENT AMI GROWTH IN THE COUNTY WITH AN INCREASE OF 36.94% SINCE 2018
Canton is Located in the Great Smoky Mountains About 17 Miles West of Asheville, Providing Access to Numerous Amenities
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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/.
601 Union St.
Suite 3909
Seattle, WA 98101
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Brandon Grisham
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207 East Bay St.
Suite 301 & 312
Charleston, SC 29401
CHARLESTON OFFICE
Senior Managing Director
Multifamily
SC License #: 57243
843.628.3765
mark.boyce@berkadia.com
MArk Boyce
Multifamily LIHTC Property Offering 1, 2, & 3 Bedroom Apartments with a HAP Contract In Place Covering 60 Units
Richland County has Experienced an Increase of 45.28% in FMR on One, Two, & Three Bedrooms Since 2018
Property is Past its Initial 15-Year LIHTC Compliance Period and is Eligible for Resyndication
Strong AMI Growth in Richland County with an Overall 24.32% Increase Since 2018
Over $1 million in recent renovations have been completed at the property including, replacing aluminum wiring, roofs and balconies, and exterior stairwells
Senior Managing Director
Affordable Housing
WA License #: 98101
253.653.3313
brandon.grisham@berkadia.com
Director
Affordable Housing
WA License #: 22019732
425.999.1152
adam.tomberg@berkadia.com
Adam Tomberg
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/.