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Eagle Ridge Square Apartments 6101-6103 Eagle Ridge Ln 104 Unit Apartment Building For Sale Flint, MI 48505

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EXECUTIVE SUMMARY

The Eagle Ridge Apartments consists of 104 townhome style apartment units in Flint, Michigan. The property was built in 1999 using Low Income Housing Tax Credits (LIHTC) that had an initial 15 year compliance period, that is now over. The Property is now in the "extended use period" where the property must be kept affordable, but the tax credits have burned off and are not liable for recapture. The property consists of 39 two bedrooms and 65 three bedrooms, and is grossing $72,000+ per month in rental income.

PROPERTY FACTS

Sale Type	Investment	Building Size	162,898 SF
No. Units	104	Average Occupancy	100%
Property Type	Multifamily	No. Stories	2
Property Subtype	Apartment	Year Built	1999
Apartment Style	Garden	Parking Ratio	1.29/1,000 SF
Building Class	C	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Lot Size	8.49 AC	Parcel Number	47-30-185-022
Zoning	CM-347

Sale Type	Investment
No. Units	104
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Garden
Building Class	C
Lot Size	8.49 AC
Building Size	162,898 SF
Average Occupancy	100%
No. Stories	2
Year Built	1999
Parking Ratio	1.29/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	CM-347
Parcel Number	47-30-185-022