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8713 Signal Hill Rd. - Manassas, VA 20110
PROPERTY Stats
2002
Placed in Service
29,700
sF
PROPERTY OVERVIEW
Signal Hill Apartments is a 36-unit affordable housing community located in Manassas, VA. The property is conveniently located minutes from shopping, dining, public parks, and schools.
The property was built in 1965 and was renovated and placed in service in 2002 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 Virginia Housing Development Agency. The property is beyond its initial compliance period.
Signal Hill Apartments offers two bedroom, one bathroom apartment homes featuring fully equipped kitchens, window coverings, large walk-in closets, and a patio/balcony. Select floor plans offer lofts.
Community amenities include a large swimming pool, grilling and picnic area, playground, on-site maintenance, and each building features a convenient laundry facility.
The Manassas / Gainesville submarket continues to perform fantastically with a total vacancy rate of 4.1% and a 6.4% increase in the asking rents over the last 12 months, per CoStar
Strong operational upside through a conversion to market following the expiration of the LIHTC Restrictions at the end of 2032
The property is located in an attractive, high income area with the median household income surpassing $99,000 within three miles of the property
Manassas is part of the Washington D.C. MSA, located 32 miles southwest of downtown
INVESTMENT HIGHLIGHTS
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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/.
800 W. Main St.
Suite 1410
Boise, ID 83702
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MIKE TERRY
Senior Director
Affordable Housing
MT License #89005
425.761.1640
mike.terry@berkadia.com
INVESTMENT ADVISORS
DREW WHITE
Senior Managing Director
Multifamily
VA License #0225067061
202.294.6976
drew.white@berkadia.com
Senior Managing Director
Multifamily
VA License #0225154022
301.202.3553
bobby.meehling@berkadia.com
Robert Meehling
4445 Willard Ave.
Suite 1200
Chevy Chase, MD 20815
D.C. METRO 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
36
UNITS
29,700
Photo GALLERY
Senior Managing Director
Affordable Housing
ID License #DB36794
208.286.5013
jeff.irish@berkadia.com
JEFF IRISH
Senior Director
Affordable Housing
ID License #SP42885
208.631.4981
jordan.skyles@berkadia.com
Jordan Skyles