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
44,190
RENTABLE AREA
2023
YOC
75
UNITS
Investment highlights
74 Units are covered under a Potential HAP Contract with excellent rental upside available through a contract renewal and subsequent Mark-Up-To-Market
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Tremendous growth in the 1 BD HUD Small Area Fair Market Rent, increasing by 25% since 2022
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The asset is in excellent physical condition, with a 2024 NSPIRE score of 96
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Senior Property with incredibly low vacancy, under 0.5% in 2024
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xxx
6
96%
OCCUPIED
xxx
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GALLERY
GALLERY
2006
Placed in Service
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15450 Plummer St. - North Hills, CA 91343
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PROPERTY OVERVIEW
Plummer Village is a 75-unit affordable housing community for seniors age 62+ located in North Hills, CA. The property is conveniently located minutes from the Sepulveda VA Medical Center and just over a mile to the Mid-Valley Senior Center and the Sepulveda Recreation Center. Major retailers, including Von’s, Walmart, Target, ALDI, and The Home Depot are nearby, as well as numerous restaurants, outdoor recreation, public transportation, and major transportation arteries.
The property was built in 1983 and rehabbed and placed in service in 2006 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%, 40%, 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 provides assistance for 74 units with a renewal date of 11-1-2011 and running for a term of 20 Years.
Plummer Village offers one bedroom apartment homes featuring gated access, on-site laundry facility, picnic area, and planned social activities.
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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 of Operations Affordable Housing
208.296.2073 jordan.baird@berkadia.com
CA License #02251798
Jordan Baird
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
714.384.3266 bruce.furniss@berkadia.com
CA License #00886554
Bruce Furniss
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Senior LIHTC Property built in 2011 containing 90 units located in the 8-story building along with 10 three-bedroom townhome units
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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
Managing Director Multifamily
714.384.3266 bruce.furniss@berkadia.com
CA License #00886554
Senior Financial Analyst Affordable Housing 206.512.5567 ryley.lewis@berkadia.com WA License #22027158
Ryley Lewis