Wentworth 260555

96 E. Hayden Ave. - Evanston, WY 82930

PROPERTY Stats

96%

Occupancy

2000

Placed in Service

24,616

PROPERTY OVERVIEW

Wentworth is a 24-unit apartment community located in Evanston, WY. The property offers a mix of one, two, and three bedroom floor plans to income qualifying residents. Only one and a half hours away from Salt Lake City, UT, Wentworth represents an appealing opportunity to acquire a well maintained asset with potential for operational upside. Wentworth was built and placed in service in 2000 under the Section 42 Low-Income Housing Tax Credit program (LIHTC). There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than income limits which are provided by Wyoming Community Development Authority (WCDA). Additionally, the project originally received HOME Funds with an initial loan balance of $375,000 with a 1% interest rate paid over 480 monthly installments. The loan balance is currently over $160,000 and is potentially assumable by a buyer. As part of receiving these funds, there is a requirement of 9 HOME Units for a 40 year affordability period as laid out in the HOME Loan Agreement Residents benefit from a multitude of amenities including, on-site leasing office, community room, playground, and garages. Unit amenities include a full appliance package, walk-in closet, extra storage, and private patio/balcony. The owner pays water, sewer, and trash expenses.

Tremendous growth in the Uinta County HUD Median Family Income over recent years, increasing from $64,500 in 2019 to $96,600 in 2024 Potential to assume the very attractive existing HOME Loan with a balance over $160,000 and a 1% interest rate Well performing asset with an occupancy rate of 94.75% over the trailing-12 months and rents well below max net allowable on the non-HOME units Conveniently located just over an hour from Park City, UT and one and a half hours from Salt Lake City, UT

INVESTMENT HIGHLIGHTS

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

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TOM BRADLEY

WY License #12324 303.880.0108 tom.bradley@erescompanies.com

IN COOPERATION WITH

UNITS

24,616

Associate Director Affordable Housing UT License #14126557-SA00 253.355.1521 sam.kasteler@berkadia.com

sam kasteler

Senior Director Affordable Housing ID License #SP42885 208.631.4981 jordan.skyles@berkadia.com

Jordan Skyles