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 company business in Nevada.
© 2024 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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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QUICK STATS
$2,213/$2.12
Market Rent
69,987
RENTABLE AREA
2023
YOC
75
UNITS
Investment highlights
The property currently has 100% HAP Coverage with an Option 1b Contract having a term of 20 years running through March 2033
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Terrific rental upside through a POTENTIAL HAP Contract Renewal and subsequent Mark-Up-To-Market to the “As Renovated” Rents as indicated by a recent RCS
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The asset is located in a fantastic submarket with the median household income exceeding $120,000 within a mile radius
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Excellent historical occupancy with a 2024 vacancy rate of 1.5%
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xxx
6
96%
OCCUPIED
xxx
5
GALLERY
GALLERY
2008
Placed in Service
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3838 Clayton Rd. - Concord, CA 94521
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PROPERTY OVERVIEW
La Vista is a 75-unit affordable housing community located in Concord, CA. The property is centrally located minutes from public transportation, major transportation arteries, and area amenities, including schools, parks, and entertainment. Major retailers, including Safeway, T.J. Maxx, Sam’s Club, and Trader Joe’s, as well as numerous restaurants, and outdoor recreation are nearby as well.
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 is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 50% & 60% of the Area Median Income (AMI) limits, which are provided by the California Tax Credit Allocation Committee.
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 renewal period started 3-15-2013 and runs for a period of 20 years.
La Vista offers one, two, and three bedroom apartment homes featuring an on-site laundry facility, picnic area, and a playground.
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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.
© 2025 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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
2301 Roscrans Ave. Suite 2110 El Segundo, CA 90245
EL SEGUNDO OFFICE
800 W. Main St.
Suite 1410
Boise, ID 83702
BOISE OFFICE
Senior Director
Affordable Housing
208.631.4981
jordan.skyles@berkadia.com
ID License: #SP42885
Jordan Skyles
Director Multifamily 303.689.8320 nate.moyer@berkadia.com
CO License #FA.100077890
nate moyer
Senior Managing Director
Affordable Housing
208.286.5013
jeff.irish@berkadia.com
ID License: #DB36794
Jeff Irish
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Associate Director 817.821.9559 jack.leonhard@berkadia.com
Jack Leonhard
The Opportunity
The Asset
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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 company business in Nevada.
© 2024 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 Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Managing Director
Multifamily 415.310.0487 scott.macdonald@berkadia.com
CA DRE #01422005
Scott MacDonald
4
Senior LIHTC Property built in 2011 containing 90 units located in the 8-story building along with 10 three-bedroom townhome units
5
Well located asset just under 7 miles from downtown Miami, as well as the Miami International Airport
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
Senior Managing Director
Multifamily 415.835.9205 jason.parr@berkadia.com
CA DRE #01323188
Jason Parr
Senior Financial Analyst Affordable Housing 206.512.5567 ryley.lewis@berkadia.com WA License #22027158
Ryley Lewis
Director of Operations Affordable Housing
208.296.2073 jordan.baird@berkadia.com
CA License #02251798
Jordan Baird
Senior Financial Analyst Affordable Housing 206.512.5567 ryley.lewis@berkadia.com WA License #22027158
Ryley Lewis
Director of Operations Affordable Housing
208.296.2073 jordan.baird@berkadia.com
CA License #02251798
Jordan Baird