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3720 W. Tayjan Ln. - Post Falls, ID 83854
PROPERTY Stats
82
UNITS
2012 & 2013
Year Built
62,002
sF
PROPERTY OVERVIEW
Silver Creek Apartments I & II is an 82-unit affordable housing community for seniors located in Post Falls, ID. The property is minutes from I-90 providing easy access to the Post Falls Senior Center, healthcare, and shopping venues, such as Walmart and Cabella’s.
Phase I of the property was built and placed in service in 2012 and phase II was built and placed in service in 2013, under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is are existing regulatory agreements in place which requires at least 74 of the units to be rented to income qualifying residents earning no more than 30%, 35%, 40%, 45%, 50%, and 55% of Area Median Income (AMI) limits, which are provided by the Idaho Housing Finance Association. The remaining units are unrestricted.
Silver Creek Apartments I & II is comprised of one, two, and three bedroom units featuring a spacious layout with energy star appliances, in-unit washer & dryer connections, and a balcony/patio. Community amenities include an on-site fitness center, community room, computer center, on-site management, and an on-site laundry facility.
82-unit affordable housing community for seniors located within the
Coeur D’Alene, ID MSA
The rental limits are at a steep discount to comparable market rate properties resulting in an occupancy rate of nearly 99% over the trailing-12 months
Fantastic rental upside as the limits increased by 5.8% in 2023, leaving an additional 19% of rental growth potential for future years due to the annual ceiling adjustment
Incredible income growth has been experienced in the Coeur D’Alene, ID MSA, with the HUD Median Family Income increasing from $65,500 in 2021 to $93,900 in 2023
Post Falls is centrally located just off I-90 providing quick and easy access into Spokane, WA and Coeur D’Alene, ID
INVESTMENT HIGHLIGHTS
jordan skyles
Director
Affordable Housing
208.631.4981
jordan.skyles@berkadia.com
RYLEY LEWIS
Senior Financial Analyst
Affordable Housing
206.512.5567
ryley.lewis@berkadia.com
mike Terry
Director
Affordable Housing
425.761.1640
mike.terry@berkadia.com
Jeff Irish
Senior Managing Director
Affordable Housing
208.286.5013
jeff.irish@berkadia.com
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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.
© 2023 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 Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
6225 North Meeker Place
Suite 210
Boise, ID 83713
BOISE OFFICE
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2020 Main Street
Suite 200
Irvine, CA 92614
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512 S Union Ave
5217 Marathon St
451 Lucas Ave
445 Lucas Ave (1 Bedroom)
2620 Orchard Ave
82-unit affordable housing community for seniors located within the
Coeur D’Alene, ID MSA
The rental limits are at a steep discount to comparable market rate properties resulting in an occupancy rate of nearly 99% over the trailing-12 months
Fantastic rental upside as the limits increased by 5.8% in 2023, leaving an additional 19% of rental growth potential for future years due to the annual ceiling adjustment
Incredible income growth has been experienced in the Coeur D’Alene, ID MSA, with the HUD Median Family Income increasing from $65,500 in 2021 to $93,900 in 2023
Post Falls is centrally located just off I-90 providing quick and easy access into Spokane, WA and Coeur D’Alene, ID
Managing Director
503.261.3668
fred.dockweiler@berkadia.com
FRED DOCKWEILER
MORTGAGE BANKERS
Director of Operations
Affordable Housing
208.631.4981
jordan.skyles@berkadia.com
JORDAN SKYLES
Senior Managing Director
Affordable Housing
208.286.5013
jeff.irish@berkadia.com
Jeff Irish
INVESTMENT SALES
6225 North Meeker Pl.
Suite 210
Boise, ID 83713
BOISE OFFICE
Contacts and Office Locations