6625 State Ave. - Kansas City, KS 66102
PROPERTY OVERVIEW
The Villas at Ridge Pointe I & II is a 55-unit affordable housing community for seniors ages 55+ located in Kansas City, KS. The property is conveniently located minutes from healthcare facilities, retail, and grocers. Downtown Kansas City is less than 30 minutes from the property offering even more entertainment opportunities.
Phase I of the property was built and placed in service in 2006 and phase II of the property was built and placed in service in 2010, both 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 40%, 50%, and 60% of the Area Median Income (AMI) limits, which are provided by the Kansas Housing Resources Corporation. Additionally, both phases of the property are believed to be QC Eligible allowing significant upside to be available through a conversion to market.
The Villas at Ridge Pointe I & II offers two bedroom apartment homes featuring an open floorplan, fully equipped kitchen, and a washer and dryer. The community offers residents a clubhouse, picnic area with grills, fitness center, and business center.
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
Photo GALLERY
INVESTMENT ADVISORS
Jordan Skyles
Senior Director
Affordable Housing
ID License #SP42885
208.631.4981
jordan.skyles@berkadia.com
4800 Main St.
Suite 501
Kansas City, MO 64112
KANSAS CITY OFFICE
PROPERTY Stats
55
UNITS
2006 & 2010
Built
53,229
sF
Senior Managing Director
Affordable Housing
ID License #DB36794
208.286.5013
jeff.irish@berkadia.com
Jeff Irish
Senior Director
Multifamily
KS License #237575
816.656.3705
michael.spero@berkadia.com
Michael Spero
Potential to take both phases through the qualified contract process, providing a pathway for tremendous operational upside
Incredibly well preforming asset with a vacancy rate below 1% over the trailing-12 months
The property consists completely of attractive single story buildings with spacious 2 bedroom units averaging nearly 1,000 SF per unit, providing for high rental demand from the market
Senior LIHTC property ideally located just under 10 miles west of downtown Kansas City
INVESTMENT HIGHLIGHTS
Managing Director
504.722.1999
chris.crump@berkadia.com
Chris Crump
MORTGAGE BANKING
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Terms of Use
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Contact
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Senior Managing Director
504.458.1626
tim.leonhard@berkadia.com
Tim Leonhard
Director
Affordable Housing
MT License #89005
425.761.1640
mike.terry@berkadia.com
Mike Terry