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Multifamily HUD

Coloma Woods

2300 Heather Glen Ln, Rancho Cordova, CA 95670

Listing Price: Request For Offer

Number of Units
29
Gross SF
16,860

Investment Overview

Marcus & Millichap is proud to present Coloma Woods, an Active Senior Apartment Complex located in Rancho Cordova, California. The property is restricted to residents that are 62 and older, and of Low Income as defined by HUD. The property has a HAP Contract that expires on 7/1/2023. The HAP contract applies to all units except for the Manager's Unit. Coloma Woods, as usual for a Active Senior Apartment, is made up of all one-bedroom/one-bath units. However, unlike many buildings of its age, the subject property has a washer/dryer in each unit, a major convenience for the residents. Rancho Cordova is one of the principle Suburbs of Sacramento, California. An important housing area, Rancho came of age during the 1960's with the development of Aerojet and Mather Airforce Base during the Cold War. At the end of the Cold War, Rancho Cordova evolved. Mather Air Force Base is still an active airport, and important employment center with numerous private business that have moved to the Business Park. Interstate 80 Bisects the City, and serves as a major connection to Downtown Sacramento, a quick 20-minute commute away. Today the City is a strong Middle Class Community with a more diverse employment center, numerous offices along the Highway, with easy access to shopping, public transportation and entertainment. Sacramento has seen some of the highest rent growth in the country. With an expiring HAP contract less than two years away, the new owner will have an opportunity to take advantage of increasing rents, with a stable resident population and the opportunity to peruse a TCAC Acquisition Rehab, or to simply hold the property for the long term. Today, apartments with HAP Contracts in cities with strong rental demand rarely see the open market. The buyer will have the ability to take advantage of this unique asset in a strong location.

Investment Highlights

  • Senior (62+) Apartment Complex with HUD HAP Contract Expiring in July 2023
  • Strong Market for Section 42 + PBS8 MuTM Synergy - Primed for LIHTC, At-Risk Acq/Rehab.
  • 29 One-Bedroom Units ~700 Square Feet with Laundry Hookups

Exclusively Listed By

Multifamily HUD

Coloma Woods

Listing Price: Request For Offer

Number of Units
29
Gross SF
16,860

Investment Highlights

  • Senior (62+) Apartment Complex with HUD HAP Contract Expiring in July 2023
  • Strong Market for Section 42 + PBS8 MuTM Synergy - Primed for LIHTC, At-Risk Acq/Rehab.
  • 29 One-Bedroom Units ~700 Square Feet with Laundry Hookups

Investment Overview

Marcus & Millichap is proud to present Coloma Woods, an Active Senior Apartment Complex located in Rancho Cordova, California. The property is restricted to residents that are 62 and older, and of Low Income as defined by HUD. The property has a HAP Contract that expires on 7/1/2023. The HAP contract applies to all units except for the Manager's Unit. Coloma Woods, as usual for a Active Senior Apartment, is made up of all one-bedroom/one-bath units. However, unlike many buildings of its age, the subject property has a washer/dryer in each unit, a major convenience for the residents. Rancho Cordova is one of the principle Suburbs of Sacramento, California. An important housing area, Rancho came of age during the 1960's with the development of Aerojet and Mather Airforce Base during the Cold War. At the end of the Cold War, Rancho Cordova evolved. Mather Air Force Base is still an active airport, and important employment center with numerous private business that have moved to the Business Park. Interstate 80 Bisects the City, and serves as a major connection to Downtown Sacramento, a quick 20-minute commute away. Today the City is a strong Middle Class Community with a more diverse employment center, numerous offices along the Highway, with easy access to shopping, public transportation and entertainment. Sacramento has seen some of the highest rent growth in the country. With an expiring HAP contract less than two years away, the new owner will have an opportunity to take advantage of increasing rents, with a stable resident population and the opportunity to peruse a TCAC Acquisition Rehab, or to simply hold the property for the long term. Today, apartments with HAP Contracts in cities with strong rental demand rarely see the open market. The buyer will have the ability to take advantage of this unique asset in a strong location.

Exclusively Listed By

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