Central PAProperty Type: Multifamily
Size: 151 Units
Price: See Broker for Details
CAP: See Broker for Details
Marcus & Millichap is pleased to present the PA LIHTC Portfolio - A 151-unit, 3-property portfolio located in the Mechanicsburg and State College markets of Pennsylvania. The properties consist of:
• Roth Village - 61 Units in Mechanicsburg, PA
• Huntington Park - 42 Units in Boalsburg, PA
• Wyndtree Court - 48 units in Bellefonte, PA
All three properties were developed in the late 1990s under the Low Income Housing Tax Credit program, which is set to expire in the next 6-9 years. Each property represents a significant value add opportunity, with rents across the portfolio averaging approximately 12% below the max tax credit levels.
There is an additional opportunity to begin a conversion to market rate rental levels once the tax credit periods expire. The portfolio is currently fully occupied, and has been well -maintained with numerous recent capital improvements.
Please contact the listing agents for due diligence information.