Multifamily
Auction - Hatton House Apartments | 76-Unit LIHTC Community in Florida | 71% Occupied
2045 3rd Ave, Sneads, FL 32460
Starting Bid: $750,000
Investment Overview
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2164/
Marcus & Millichap is pleased to offer to qualified investors, Hatton House Apartments, a LIHTC and Age Restricted Community located in Sneads, FL (Florida's Panhandle) currently set for online auction on October 28th-30th, 2024. The Property must set aside 74% of the units to rent to tenant at no more than 60% of AMI, 15% of the units to rent to tenants at no more than 35% of AMI, and 11% of Units can be rented at 100% of AMI. Additionally, 80% of the property must be rented to tenants 55+. Hatton House includes an amenity package that consists of four laundry facilities, library, coffee room, gym, elevator, community kitchen, and an indoor swimming pool with retractable roof.
Auction - Hatton House Apartments | 76-Unit LIHTC Community in Florida | 71% Occupied
Investment Highlights
- STARTING BID $750,000 76-Unit LIHTC Community in Florida | 71% Occupied | AUCTION OCTOBER 28-30, 2024
- 76-Unit Age Restricted Low Income Housing Property Located in Heart of Sneads, FL with Direct Proximity to US Highway 90, Snead's Main Thoroughfare.
- Hatton House's Rent Restrictions are Based on tenant income at 35%, 60% and 100% of AMI, and requires 80% of the property is rented to 55+
- Currently, The Average of In-place Leases Is More Than $200 Below The Max Allowable Rents, Allowing a New Investor The Ability To Obtain Rental Increases As Leases Turn
- Since March 2024, Hatton House has received renovations to the common area with new Wainscot, Vinyl Plank Flooring, Interior Paint, And Several Units Received an Interior Renovation
- Amenities Include Clubhouse, Common Area Bathrooms, Four Laundry Facilities, Library, Coffee Room, Gym, Elevator, Community Kitchen, And an Indoor Swimming Pool With Retractable Roof
Exclusively Listed By
Auction Advisors
Multifamily
Auction - Hatton House Apartments | 76-Unit LIHTC Community in Florida | 71% Occupied
Starting Bid: $750,000
Investment Highlights
- STARTING BID $750,000 76-Unit LIHTC Community in Florida | 71% Occupied | AUCTION OCTOBER 28-30, 2024
- 76-Unit Age Restricted Low Income Housing Property Located in Heart of Sneads, FL with Direct Proximity to US Highway 90, Snead's Main Thoroughfare.
- Hatton House's Rent Restrictions are Based on tenant income at 35%, 60% and 100% of AMI, and requires 80% of the property is rented to 55+
- Currently, The Average of In-place Leases Is More Than $200 Below The Max Allowable Rents, Allowing a New Investor The Ability To Obtain Rental Increases As Leases Turn
- Since March 2024, Hatton House has received renovations to the common area with new Wainscot, Vinyl Plank Flooring, Interior Paint, And Several Units Received an Interior Renovation
- Amenities Include Clubhouse, Common Area Bathrooms, Four Laundry Facilities, Library, Coffee Room, Gym, Elevator, Community Kitchen, And an Indoor Swimming Pool With Retractable Roof
Investment Overview
Register to Bid and Access Due Diligence Documents on RealINSIGHT Marketplace - https://rimarketplace.com/auction/2164/ Marcus & Millichap is pleased to offer to qualified investors, Hatton House Apartments, a LIHTC and Age Restricted Community located in Sneads, FL (Florida's Panhandle) currently set for online auction on October 28th-30th, 2024. The Property must set aside 74% of the units to rent to tenant at no more than 60% of AMI, 15% of the units to rent to tenants at no more than 35% of AMI, and 11% of Units can be rented at 100% of AMI. Additionally, 80% of the property must be rented to tenants 55+. Hatton House includes an amenity package that consists of four laundry facilities, library, coffee room, gym, elevator, community kitchen, and an indoor swimming pool with retractable roof.
Exclusively Listed By
Auction Advisors
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