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16526 11th St. - Huron, CA 93234
PROPERTY Stats
64
UNITS
1982/2008
Year Built/Reno
67,896
sF
PROPERTY OVERVIEW
Huron Plaza Apartments is a 64-unit affordable housing community located in Huron, CA, conveniently located near area amenities that include shopping, dining, public schools, and major transportation arteries. Huron is approximately an hour southwest of Fresno and 15 miles east of Coalinga, which is home to West Hills College Coalinga. The city is also home to the Coalinga Oil Field, one of the area's main employment industries along with agriculture and education.
The property was built in 1982 and rehabbed 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 50% and 60% of the Area Median Income (AMI) limits, which are provided by the California Tax Credit Allocation Committee.
Additionally, the property is 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 June 1, 2008 and provides assistance for all units. Within the contract, Section 2(b) states that the contract runs for an effective term of 20 years.
Huron Plaza Apartments offers two, three, and four bedroom apartment homes that feature a full kitchen appliance package with pantry, walk-in closet in the master, and a patio/balcony. Community amenities include two on-site laundry rooms and emergency maintenance.
The property has an Option 1b Mark-Up-to-Market Section 8 Contract covers all 64 units. Additionally, it was rehabilitated in 2008 utilizing LIHTCs.
The region has seen excellent income growth with the Fresno County HUD Median Family Income rising from $47,600 in 2015 to $79,400 in 2023, an increase of nearly 67%.
Huron is a located in Fresno County, California. During the harvest season, the population swells to over 15,000 people due to the influx of farm workers.
Ideally located within walking distance of multiple parks, the Huron Elementary School, Chestnut High School, and the Huron Public Library.
INVESTMENT HIGHLIGHTS
jordan skyles
Director
Affordable Housing
208.631.4981
jordan.skyles@berkadia.com
RYLEY LEWIS
Senior Financial Analyst
Affordable Housing
206.512.5567
ryley.lewis@berkadia.com
mike Terry
Director
Affordable Housing
425.761.1640
mike.terry@berkadia.com
ryley lewis
Senior Financial Analyst
Affordable Housing
206.512.5567
ryley.lewis@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/.
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bruce furniss
The property has an Option 1b Mark-Up-to-Market Section 8 Contract covers all 64 units. Additionally, it was rehabilitated in 2008 utilizing LIHTCs.
The region has seen excellent income growth with the Fresno County HUD Median Family Income rising from $47,600 in 2015 to $79,400 in 2023, an increase of nearly 67%.
Huron is a located in Fresno County, California. During the harvest season, the population swells to over 15,000 people due to the influx of farm workers.
Ideally located within walking distance of multiple parks, the Huron Elementary School, Chestnut High School, and the Huron Public Library.
Director
Affordable Housing
425.761.1640
mike.terry@berkadia.com
MIKE TERRY
Senior Managing Director
614.468.5805
matthew.napoleon@berkadia.com
Matthew Napoleon
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Senior Managing Director
Affordable Housing
253.653.3313
brandon.grisham@berkadia.com
BRANDON GRISHAM
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