Oak Forest 465206

601 Calhoun Rd. - Belton, SC 29627

PROPERTY Stats

1980

Year Built

58,624

PROPERTY OVERVIEW

Oak Forest Apartments is a 64-unit affordable housing community offering one, two, and three bedroom apartments. The property is conveniently situated in Belton, SC, minutes from major retailers, including Ingles Markets and Dollar General. Belton is also located just 10 miles east of Anderson and under 30 miles southwest of Clemson, home to the University of Clemson. The property is a recipient of HUD Section 8 project based rental income assistance pursuant to a Housing Assistance Payment (HAP) contract. The Renewal Contract has an effective beginning date of December 1, 2024 and provides assistance for all units. Within the contract, Section 2(a) states that the contract runs for an effective term of 5 years.

Multifamily property with a HAP Contract covering all 64 units The Renewal Contract will be effective 12-1-2024, with an 37.2% increase in the average contract rent across the property Belton, SC is experiencing rapid growth with a projected population increase of nearly 7% between 2024 and 2029 within 3 miles of the property, per CoStar Thriving Business Environment in the Anderson, SC MSA with Electrolux, Techtronic, Michelin, and Smurfit Kappa all building or having recently built new manufacturing facilities, providing several thousand jobs to the region

INVESTMENT HIGHLIGHTS

Contacts and Office Locations

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. © 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 the Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.

800 W. Main St. Suite 1410 Boise, ID 83702

BOISE OFFICE

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Contact

Privacy

Jordan Skyles

Senior Director Affordable Housing ID License #SP42885 208.631.4981 jordan.skyles@berkadia.com

INVESTMENT ADVISORS

Mark Boyce

Managing Director Multifamily SC License #22019732 678.548.6621 mark.boyce@berkadia.com

774 S. Shelmore Blvd. Suite 105 Mount Pleasant, SC 29464

Mt. Pleasant OFFICE

MORTGAGE BANKING

Senior Managing Director 214.360.3849 tim.leonhard@berkadia.com

TIM LEONHARD

Managing Director 504.322.1196 chris.crump@berkadia.com

CHRIS CRUMP

UNITS

58,624

Director Affordable Housing MT License: #89005 425.761.1640 mike.terry@berkadia.com

Mike Terry