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
124,506
RENTABLE AREA
2023
YOC
150
UNITS
Investment highlights
150-Unit LIHTC property with 100% HAP Coverage across all units
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Tremendous rental upside opportunity available for an incoming buyer to potentially renew the contract and increase the HAP rents by 49% following property renovations based on a recent RCS
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The asset is very well-located, just under two miles from the University of Colorado and has a median household income above $85,000 within a 5-mile radius
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Excellent accessibility to the plethora of area amenities as evidenced by a 97-bike score and 71-walk score
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96%
OCCUPIED
xxx
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GALLERY
GALLERY
2007
Placed in Service
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3100 34th St. - Boulder, CO 80301
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PROPERTY OVERVIEW
San Juan Del Centro is a 150-unit affordable housing community located in Boulder, CO. The property is conveniently situated between two major thoroughfares providing quick and easy access to the University of Colorado Boulder and major retailers, including Target, Natual Grocers, The Home Depot, and King Soopers. Numerous restaurants, outdoor recreation, schools, healthcare facilities, and major transportation arteries are nearby as well.
The property was built in 1971 and rehabbed and placed in service in 2007 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 60% of the Area Median Income (AMI) limits, which are provided by the Colordao Housing and Finance Authority.
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 December 15, 2006 and provides assistance for all 150 units. Within the contract, Section 2(b) states that the contract runs for an effective term of 20 years.
San Juan Del Centro offers one, two, three, and four bedroom apartment homes featuring central heat and air, a full kitchen appliance package, extra storage, and walk-in closets. Community amenities include a clubhouse, business center, basketball court, assigned parking, on-site laundry facility, playground, and on-call maintenance.
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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.
© 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/.
1331 17th St. 10th Floor Denver, CO 80202
DENVER 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
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM 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.
Senior Managing Director Multifamily 303.689.8335 pamela.koster@berkadia.com CO License #ER.100045388
PAM KOSTER
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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
Director Affordable Housing 425.761.1640 mike.terry@berkadia.com MT License #89005
Mike Terry