Suncrest Apartments - Lihtc Advisors...Jul 17, 2017 · The information contained in this package is confidential and is intended for review solely by the person receiving it directly

Suncrest Apartments80 Units | 105 Toscanini Avenue | Sierra Vista, AZ 85635

EXCLUSIVE OFFERING

2 LIHTC ADVISORS SUNCREST | 80 UNITS

CONFIDENTIALITY & DISCLAIMER

The information contained in this package is confidential and is intended for review solely by the person receiving it directly from LIHTC Advisors. It should not be copied, distributed, nor made available to any person without the written consent from LIHTC Advisors. The information in this package has been obtained from sources we believe reliable. However, LIHTC Advisors has not verified and will not verify, any of the information contained herein and makes no guarantee, warranty, or representation about it. It is the sole responsibility of any interested parties to independently confirm the accuracy and completeness of the information provided herein. All prospective clients must conduct their own due diligence and take appropriate measures to verify all information.

12639 W. Explorer DriveSuite 200Boise, ID 83713

John Nicolas800.840.3021 (phone)208.891.8901 (direct)888.506.2771 (fax)[email protected]

Jeff Irish800.840.3021 (phone)208.286.5013 (direct)888.506.2771 (fax)[email protected]

www.lihtcadvisors.com

In Cooperations with:

Syringa Arizona, Inc.

LIHTC Advisors


Suncrest Apartments

80 Units 105 Toscanini AvenueSierra Vista, AZ 85635

Table of Contents

PROPERTY OVERVIEW

DescriptionArea Highlights

SummaryPhotos

Area Maps

FINANCIAL ANALYSIS

Income & ExpensesCash Flow Summary

Unit MixIncome & Rent Limits

Historical AMI, MAX Rent, & FMR

COMPARABLE PROPERTIES

Rent Comparables MapRental & Occupancy Statistics

Rent Comparable Details

DEMOGRAPHIC ANALYSIS

Demographic Analysis


Property Overview

HIGHLIGHTS

• Located Close to Restaurants, Retail, Schools, and Area Amenities

• 1.2 Miles to the University of Arizona South

• Average Rents are Below Max Net LIHTC Rents

• 75 Miles to Tucson, AZ


Property Description

Suncrest Apartments is a 80-unit apartment community located in Sierra Vista, AZ. The property is conveniently located close to schools, retail, University of Arizona South, and other area amenities.

Suncrest was built and placed in service in 1999 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 30%, 40%, and 60% of Area Median Income (AMI) limits, which are provided by Arizona Department of Commerce. The property is out of its initial tax credit compliance period. Please see the Property Summary page for further details. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordability restrictions.

Suncrest offers two and three bedroom apartment homes featuring open floor plans with a full appliance package, and washer/dryer hook-ups. The community amenities include a swimming pool, playground, and well-maintained grounds

COMMUNITY AMENITIES

• Community Pool• Playground• Well-Maintained Grounds

UNIT AMENITIES

• Open Floor Plan• Full Appliance Package• W/D Hook-Ups


Area Highlights

Sierra Vista is a city in Cochise County, Arizona, and has a population of 43,355. The city is part of the Sierra Vista-Douglas Micropolitan Area, with a population of 131,346. Fort Huachuca, a U.S. Army post, is located in the northwest part of the city.

Sierra Vista is located 75 miles southeast of Tucson and serves as the main commercial, cultural, and recreational hub of Cochise County.

Nicknamed the “Hummingbird Capital of the United States”, the city sees bird watchers from all over the world flock to the nearby Ramsey Canyon Preserve and other local canyons to observe and photograph hundreds of different bird species. Other outdoor sightseeing and recreational opportunities that are nearby include the San Pedro Riparian National Conservation Area, the Coronado National Memorial in the Huachuca Mountains, and Parker Canyon Lake. Excellent views of the clear night sky have led Sierra Vista to become the chosen center of amateur astronomy in Arizona, with more than a dozen well equipped amateur observatories in the area and a large observatory at the University of Arizona-South within the city limits.

Sierra Vista is the commercial center for Cochise County and parts of northern Mexico. Retailers such as Lowe’s, Home Depot, K-Mart, Walmart, Target, Dillard’s, Sears, and Marshalls are located in the community, along with three major supermarkets and dozens of smaller specialty shops.

Sierra Vista has a substantial employment base due to Fort Huachuca — the community’s major employer and primary driving economic force. Because of contracts with the Army, the professional, scientific, and technical services sector is unusually large, but nearly half of all jobs in Sierra Vista are in the government sector. Wick Communications, which publishes several dozen newspapers in some twelve states, is headquartered in Sierra Vista.

The local public school system includes one high school, one middle school, and six elementary schools. There are also several charter and private education opportunities. Higher education is available through the University of Arizona-South, Cochise Community College, the University of Phoenix, Wayland Baptist University, and Western International University.

NEIGHBORHOOD AMENITIES

• Coronado Village Shopping Center (0.9 miles)

• Pueblo Del Sol Elementary School (1.2 miles)

• Walmart Supercenter (1.6 miles)• US Post Office (2.1 miles) • Sierra Vista Police Department

(3.0 miles)

LOCATION HIGHLIGHTS

• Population 43,355• Nicknamed the “Hummingbird

Capital of the United States”• Sierra Vista has a substantial

employment base due to Fort Huachuca — the community’s major employer and primary driving economic force.

TOP EMPLOYERS (NO. OF EMPLOYEES)

• US Army Fort Huachuca (7,956)• Teleperformance (743)• Sierra Vista Unified School District

(707)• General Dynamics Information

Tech (637)• Canyon Vista Medical Center (623)


Property SummaryNAME & LOCATIONProperty Name Suncrest ApartmentsProperty Address 105 Toscanini Avenue

Sierra Vista, AZ 85635

SECTION 42 LIHTC RESTRICTIONSPlaced in Service 1999End of Initial Compliance Period 12/31/2014End of Extended Use 12/31/2039

SITE INFORMATIONAssessor’s Parcel Number 107-16-014BNumber of Units 80Number of Buildings 6 (5 apartment buildings & 1 office building)Number of Stories 2Rentable Square Feet 89,134Year Built 1999Lot Size 6.92 AcresType of Ownership Fee SimpleDensity 11.56 Units/AcreLandscaping Mature Trees, Shrubs & DesertTopography Relatively Flat

UTILITIESWater Arizona Water CompanyElectric Sulphur Springs Valley ElectricGas Southwest Gas

CONSTRUCTIONExterior StuccoRoof Composite Shingle

# OF UNITS

RENTABLESF

YEAR BUILT

LOT SIZE

80 89,134 1999 6.92 acres



Aerial Neighborhood Map


Local Map

Suncrest

Coronado Village Shopping Center: Big 5, Little Caesars Pizza, Food City (0.9 miles)

Target, Starbucks, Fry’s Food & Drug, Staples, Chili’s (1.0 miles)

Cochise College Sierra Vista Campus (1.0 miles)

Pueblo Del Sol Elementary School (1.2 miles)

University of Arizona South (1.3 miles)

Ross Dress for Less, Hobby Lobby, Dollar Tree, Burger King (1.4 miles)

Lowe’s (1.5 miles)

Walmart, Chipotle, Olive Garden (1.6 miles)

Safeway, McDonald’s, Arby’s, Denny’s, CVS, Post Office, Walgreens (2.1 miles)

Village Meadows Elementary School(2.2 miles)

The Mall at Sierra Vista: Home Depot, Dillard’s, Sears, Best Buy, Cinemark 10, Texas Roadhouse (2.9 miles)

Sierra Vista Public Library, Sierra Vista Police Station (3.0 miles)

Wayland Baptist University, Domino’s Pizza, Subway (3.7 miles)

A

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Local Map

SUNCREST

Coronado Village Shopping Center

Cochise College Sierra Vista Campus


Regional Map

• Tucson, AZ (74 miles)

• Chandler, AZ (171 miles)

• Phoenix, AZ (188 miles)


Financial Analysis

LIST PRICE PRICE/UNIT PRICE/SF PROFORMANOI

PROFORMANOI/UNIT

PROFORMACAP RATE

$3,000,000 $37,500 $33.66 $219,176 $2,740 7.31%


Financial SummaryPRICING FIGURESLIST PRICE $3,000,000Price per Unit $37,500Price per SF $33.66PROFORMA 10-Year Leveraged IRR%* 15.97%

NOTES* Leveraged IRR Analysis assumes a 7.5% Exit Cap and 3.5% Cost of Sale.

YE 2016- VITAL DATACAP Rate 6.01%NOI $180,416 Debt Service $140,845 Net Cash Flow After Debt Service $39,571 Cash on Cash % 4.56%

TRAILING-12 (MAY ‘17)- VITAL DATACAP Rate 6.21%NOI $186,215 Debt Service $140,845 Net Cash Flow After Debt Service $45,370 Cash on Cash % 5.23%

PROFORMA- VITAL DATACAP Rate 7.31%NOI $219,176 Debt Service $140,845 Net Cash Flow After Debt Service $78,331 Cash on Cash % 9.03%

FinancingPROPOSED NEW FINANCINGLoan Amount $2,250,000 Down Payment* $867,500 Interest Rate 4.75%Amortization Period 360Loan Term 10 YearsAnnual Debt Service $140,845 Loan to Value % 75%PROFORMA Debt Coverage Ratio 1.56Program CONVENTIONAL

*NOTE: Down Payment Includes a 0.5% Acquisition Cost, 1.0% Loan Origination Fee and $1,000 per unit in Capital Expense.


Income & Expenses

OPERATIONAL ANALYSIS YE 2016 PER UNIT

TRAILING-12 (MAY '17)

PER UNIT PROFORMA PER

UNIT

Gross Potential Rent $556,213 $6,953 $561,282 $7,016 $595,416 $7,443 Loss to Lease 0.00% $0 $0 0.00% $0 $0 3.75% ($22,328) ($279)

POTENTIAL RENTAL INCOME $556,213 $6,953 $561,282 $7,016 $573,088 $7,164 (1)

OTHER RENTAL INCOMEForfeited Security Deposits $1,385 $17 $840 $11 $1,420 $18 Late Charges $1,940 $24 $1,680 $21 $1,989 $25 Misc. Other Income $2,698 $34 $2,433 $30 $2,765 $35 Total Other Rental Income $6,023 $75 $4,953 $62 $6,174 $77 GROSS POTENTIAL INCOME $562,236 $7,028 $566,235 $7,078 $579,261 $7,241 ECONOMIC LOSSVacancy Loss 8.53% ($47,422) ($593) 8.17% ($45,853) ($573) 7.50% ($42,982) ($537)Bad Debt 0.44% ($2,421) ($30) 0.44% ($2,491) ($31) 0.25% ($1,433) ($18)Concessions 0.44% ($2,445) ($31) 0.23% ($1,284) ($16) 0.25% ($1,433) ($18)Total Economic Loss 9.40% ($52,288) ($654) 8.84% ($49,628) ($620) 8.00% ($45,847) ($573)EFFECTIVE GROSS INCOME $509,948 $6,374 $516,607 $6,458 $533,414 $6,668

EXPENSES

FIXED OPERATIONAL EXPENSETotal Real Estate Property Taxes 5% $26,216 $328 5% $25,774 $322 5% $24,373 $305 (2)Total Property Insurance Expense 2% $10,804 $135 2% $10,923 $137 2% $11,196 $140Total Property Utility Expense 13% $68,492 $856 13% $66,936 $837 13% $68,609 $858TOTAL FIXED OPERATIONAL EXP 21% $105,512 $1,319 20% $103,633 $1,295 20% $104,178 $1,302VARIABLE OPERATIONAL EXPENSETotal Maint. Contract Services 1% $3,930 $49 1% $4,441 $56 1% $4,552 $57Total Repairs & Maintenance 3% $13,059 $163 3% $13,539 $169 5% $28,000 $350 (3)Total Administrative Expenses 4% $20,173 $252 4% $20,555 $257 4% $21,019 $263Total Leasing & Marketing 0% $2,171 $27 0% $2,180 $27 0% $2,235 $28Total Payroll and Salary Expenses 27% $135,190 $1,690 26% $136,214 $1,703 19% $103,584 $1,295 (4)Property Management Fee 5.00% $25,497 $319 5.00% $25,830 $323 5.00% $26,671 $333TOTAL VARIABLE OPERATIONAL EXP 39% $200,020 $2,500 39% $202,759 $2,534 35% $186,060 $2,326TOTAL FIXED & VARIABLE EXPENSES 60% $305,532 $3,819 59% $306,392 $3,830 54% $290,238 $3,628Reserves & Replacements $24,000 $300 $24,000 $300 $24,000 $300

TOTAL OPERATING EXPENSES 65% $329,532 $4,119 64% $330,392 $4,130 59% $314,238 $3,928

NET OPERATING INCOME $180,416 $2,255 $186,215 $2,328 $219,176 $2,740


(1) Potential Rental Income: Current Asking Rents annualized with a 3.75% Loss to Lease. Asking Rents were obtained by calling the property.

(2) Property Tax Expense: Analysis estimates 2017 taxes by assuming a 2% increase off of Actual 2016 Property Taxes. The property is not reassessed upon sale but will be used as a comparable if sold. There is no scheduled physical reassessment time the county abides by. The income approach is used on the improvement portion of the property. Full Cash Value has no annual increase restrictions, but Limited Value can only increase by 5% unless the property materially changes. Property Taxes are calculated off of the Limited Cash Value. There was an appeal in 2015 and reduced the Limited Cash Value below the Full Cash Value. 2017 Taxes will be mailed out in September. Analysis assumes a 3.5% increase throughout the cash flows model. All information collected from Cochise County.

2015 2016 2017Full Cash Value $2,433,854 $2,433,854 $2,433,854Limited Cash Value $2,433,854 $2,300,000 $2,300,000FCV Assessed $243,385 $243,385 $243,385LCV Assessed $243,385 $230,000 $230,000Taxes $25,635.00 $23,894.70 N/A

(3) Repairs & Maintenance Expense: Analysis assumes an increase to $350 per unit based on minimum lender underwriting standards.

(4) Payroll & Salary Expense: Analysis assumes the following pay schedule:

Full-Time On-Site Manager $17 per hour $35,360Part-Time Assistant Manager $15 per hour $15,600Full-Time Maintenance $17 per hour $35,36020% Taxes & Benefits $17,264

$103,584

Comments to Income & Expenses


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Unit MixUNIT TYPE (SET-ASIDE) # OF

UNITSUNIT SIZE

ASKINGRENT

RENT PER SF

MAXRENT

CURRENT UA

MAXNET RENT

2 BD 2 BTH- 30% 6 990 $286 $0.29 $394 $108 $2862 BD 2 BTH- 40% 4 990 $418 $0.42 $526 $108 $4182 BD 2 BTH- 60% 22 990 $681 $0.69 $789 $108 $6812 BD UNIT TOTAL 32 31,680 $18,370 $21,826 $18,3702 BD UNIT AVERAGE 990 $574 $0.58 $682 $574

3 BD 2 BTH- 30% 1 1,189 $328 $0.28 $455 $127 $3283 BD 2 BTH- 30% 8 1,190 $328 $0.28 $455 $127 $3283 BD 2 BTH- 30% 1 1,232 $328 $0.27 $455 $127 $3283 BD 2 BTH- 40% 1 1,189 $480 $0.40 $607 $127 $4803 BD 2 BTH- 40% 5 1,190 $480 $0.40 $607 $127 $4803 BD 2 BTH- 60% 25 1,190 $784 $0.66 $911 $127 $7843 BD 2 BTH- 60% 6 1,232 $784 $0.64 $911 $127 $7843 BD 2 BTH- MARKET 1 1,232 $784 $0.64 N/A N/A N/A3 BD UNIT TOTAL 48 57,454 $31,248 $36,433 $30,4643 BD UNIT AVERAGE 1,197 $651 $0.54 $775 $648

TOTAL POTENTIAL 80 89,134 $49,618 $58,259 $48,834AVERAGE 1,114 $620 $0.56 $737 $618

*Asking rents obtained by calling the property.

40%

60%

Unit Breakdown By Unit Type

2 BD 3 BD

$574

$648

$574

$648

$520

$540

$560

$580

$600

$620

$640

$660

2 BD 3 BD

Asking Rents to Net Max Tax Credit Rents

Asking Rent Max Net Rent


Tax Credit Property Income & Rent LimitsINCOME 30% 40% 60%1 Person $12,270 $16,360 $24,5402 Person $14,040 $18,720 $28,0803 Person $15,780 $21,040 $31,5604 Person $17,520 $23,360 $35,0405 Person $18,930 $25,240 $37,8606 Person $20,340 $27,120 $40,6807 Person $21,750 $29,000 $43,5008 Person $23,130 $30,840 $46,260

Tax Credit Maximum Allowable RentsSet Aside Unit Type # of Units Max Rent UA Max Net

Rent30% 2 BD 6 $394 $108 $28640% 2 BD 4 $526 $108 $41860% 2 BD 22 $789 $108 $68130% 3 BD 10 $455 $127 $32840% 3 BD 6 $607 $127 $48060% 3 BD 31 $911 $127 $784

Suncrest Apartments is a Section 42 LIHTC property which means that federal tax credits were given to help finance the property. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 30%, 40%, and 60% of Area Median Income (AMI) limits, which are provided by Arizona Department of Commerce.

Cochise CountyEffective Year: 2017

Area Median Income: $55,900

SOURCE: Novoco.com


Max Allowable LIHTC Rent Growth- 2BD/ 60%

Year Rent % Change

2012 $756 -2013 $756 0.00%2014 $756 0.00%2015 $756 0.00%2016 $789 4.37%2017 $789 0.00%

3 Yr Avg 1.46%5 Yr Avg 0.87%

$48,000

$50,000

$52,000

$54,000

$56,000

$58,000

$60,000

2012 2013 2014 2015 2016 2017

AMI Growth RateYear AMI % Change

2012 $55,900 -2013 $54,100 (3.22%)2014 $51,900 (4.07%)2015 $53,900 3.85%2016 $58,400 8.35%2017 $55,900 (4.28%)

3 Yr Avg 2.64%5 Yr Avg 0.13%

$730

$740

$750

$760

$770

$780

$790

$800

2012 2013 2014 2015 2016 2017

SOURCE: Novoco.com

*The high watermark year is 2016 at $58,400


Fair Market RentsYear 2 BD 3 BD

2012 $704 $9722013 $712 $1,0282014 $828 $1,1962015 $751 $1,0852016 $802 $1,1172017 $747 $1,060

$800

$850

$900

$950

$1,000

$1,050

2012 2013 2014 2015 2016 2017

FMR AveragesYear FMR Avg. % Change

2012 $838 -2013 $870 3.82%2014 $1,012 16.32%2015 $918 (9.29%)2016 $960 4.52%2017 $904 (5.84%)

3 Yr Avg (3.53%)5 Yr Avg 1.91%

SOURCE: Novoco.com


Rent Comparables

SUNCRESTOCCUPANCY

COMPS AVERAGE OCCUPANCY

SUNCRESTRENT/SF

COMPS AVERAGE RENT/SF

91% 94% $0.56 $0.84


A

B

C

Rent Comparables Map

D

E

FG

H

Suncrest Apts.

Crystal Creek Apts.

The Place at Savanna Springs Apts.

Oasis Apts.

Port Royal Apts.

Mountain Steppes Apts.

Las Palomas Apts.

Montego Bay Apts.

San Pedro Apts.

A

D

E

G

H

B F I


Occupancy- 94% Average

Rent Per SF- $0.84 Average

50%

55%

60%

65%

70%

75%

80%

85%

90%

95%

100%

$0.35

$0.45

$0.55

$0.65

$0.75

$0.85

$0.95

1 2 3 4 5 6 7 8 9

Occupancy & Rent per SF

A B C D E F G H

Suncrest Apts.

Crystal Creek Apts.

The Place at Savanna Springs Apts.

Oasis Apts.

Port Royal Apts.

Mountain Steppes Apts.

Las Palomas Apts.

Montego Bay Apts.

San Pedro Apts.

A

D

E

G

H

B F I

A B C D E F G H


Unit Type # of Units Rent SF RentPer SF

2BD 2BTH- 30% 6 $286 990 $0.292BD 2BTH- 40% 4 $418 990 $0.422BD 2BTH- 60% 22 $681 990 $0.693BD 2BTH- 30% 1 $328 1,189 $0.283BD 2BTH- 30% 8 $328 1,190 $0.283BD 2BTH- 30% 1 $328 1,232 $0.273BD 2BTH- 40% 1 $480 1,189 $0.403BD 2BTH- 40% 5 $480 1,190 $0.403BD 2BTH- 60% 25 $784 1,190 $0.663BD 2BTH- 60% 6 $784 1,232 $0.643BD 2BTH- MARKET 1 $784 1,232 $0.64TOTALS/AVG. 80 $620 1,114 $0.56

105 Toscanini AvenueSierra Vista, AZ 85635

Rent Comparables

SUNCREST 80 UNITS OCCUPANCY 91% YEAR BUILT 1999

4500 Campus DriveSierra Vista, AZ 85635

Distance to Subject: 1.7 miles

CRYSTAL CREEK 89 UNITS OCCUPANCY 93% YEAR BUILT 2005A


2BD 2BTH 34 $435 960 $0.45 3BD 2BTH 55 $800 1,100 $0.73 TOTALS/AVG. 89 $661 1,047 $0.63

*LIHTC Property with 30%, 40%, 50%, and 60% Units


289 South Highway 92Sierra Vista, AZ 85635


4250 East Busby DriveSierra Vista, AZ 85635


Rent Comparables

THE PLACE AT SAVANNA SPRINGS 204 UNITS OCCUPANCY 98% YEAR BUILT 2010

OASIS 184 UNITS OCCUPANCY 93% YEAR BUILT 1986

B


1BD 1BTH 80 $744 665 $1.12 2BD 1BTH 27 $837 875 $0.96 2BD 2BTH 87 $884 991 $0.89 3BD 2BTH 10 $999 1,127 $0.89 TOTALS/AVG. 204 $829 854 $0.97

C


STUDIO 32 $489 480 $1.02 1BD 1BTH 32 $489 480 $1.02 1BD 1.5BTH 48 $569 580 $0.98 2BD 2BTH 48 $669 825 $0.81 3BD 2.5BTH 24 $879 1,074 $0.82 TOTALS/AVG. 184 $608 674 $0.90


1201 North Columbo AvenueSierra Vista, AZ 85635


Rent Comparables

PORT ROYAL 252 UNITS OCCUPANCY 88% YEAR BUILT 2003 & 2008D



4250 East Foothill DriveSierra Vista, AZ 85635


MOUNTAIN STEPPES 528 UNITS OCCUPANCY 94% YEAR BUILT 1985E


1BD 1BTH 89 $495 450 $1.10 2BD 1BTH 168 $525 600 $0.88 2BD 2BTH 271 $535 650 $0.82 TOTALS/AVG. 528 $525 600 $0.87


499 South Carmichael AvenueSierra Vista, AZ 85635


Rent Comparables

LAS PALOMAS 88 UNITS OCCUPANCY 95% YEAR BUILT 1996F


3BD 2BTH 44 $743 1,050 $0.71 4BD 2BTH 44 $822 1,150 $0.71 TOTALS/AVG. 88 $783 1,100 $0.71

*LIHTC Property

409 South Lenzner AvenueSierra Vista, AZ 85635


MONTEGO BAY 192 UNITS OCCUPANCY 95% YEAR BUILT 1997G




4600 Charleston RoadSierra Vista, AZ 85635


Rent Comparables

SAN PEDRO 76 UNITS OCCUPANCY 97% YEAR BUILT 2002H


2BD 1BTH 38 $710 875 $0.81 3BD 2BTH 38 $910 1,067 $0.85 TOTALS/AVG. 76 $810 971 $0.83

*LIHTC Property with 20%, 30%, 40%, 50%, and 60% Units


Demographics

SIERRA VISTAMEDIAN HOME COST

SIERRA VISTAMEDIAN GROSS RENT

SIERRA VISTAUNEMPLOYMENT RATE

SIERRA VISTAJOB GROWTH

$184,800 $939 4.7%(5/2017)

0.1%(since 1/2017)

SOURCE: careertrends.com, areavibes.com


0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

Under $25,000 $25,000- $50,000 $50,000- $75,000 $75,000- $100,000 $100,000- $125,000 $125,000- $150,000 $150,000- $200,000 $200,000+

Demographic Analysis

POPULATION 1 MILE 3 MILES 5 MILES

2017 Estimated Population 7,169 27,070 45,321Population Growth 2010-2017 4.05% (1.09%) 0.31%

HOUSEHOLDS

2017 Estimated Households 3,088 11,623 19,2172010 Census Households 4.11% (0.72%) 0.97%

INCOME

2017 Household Income: Average $61,075 $69,655 $73,644 2017 Household Income: Median $50,814 $54,874 $55,751

HOUSEHOLD INCOME LEVELS BY POPULATION

OWNER62%

RENTER38%

OCCUPIED84%

VACANT16%

SOURCE: CoStar


www.lihtcadvisors.com

Documents

Suncrest Apartments - Lihtc Advisors...Jul 17, 2017 · The information contained in this package is confidential and is intended for review solely by the person receiving it directly