$9,000,000
Meadow Park
Listing Type: For Sale
Property Type: Multi-Family
Status: Available
CBA ID#: 680878
1001 W 4 Ave
Kennewick, WA 99336
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Marketing Description:
155-unit Low Income Housing Tax Credit asset ideally located in Kennewick, WA.Originally built in 1985, Meadow Park was placed into the LIHTC program after substantial renovation in 2008 and consists of 1-bed and 3-bed units at 30-60% AMI limits, which average to 42% AMI.Close to local schools, shopping, major employers, and situated along Benton Franklin Transit’s Bus Route 42, which runs through Kennewick every 30 minutes, 7 days a week. The community features property amenities including an outdoor pool, leasing office, family-friendly playground, outdoor grills, and more.With 100% of the units dedicated to Affordable Housing, and through a partnership with Hearthstone Housing Foundation, the property realizes significant tax benefits providing additional cash flow benefits.The
Land Features:
- Lot Size: 214315 SqFt
- Lot Acreage: 4.92 Acres
- Zoning: RH
Building Features:
- Building Size: 119176 SqFt
- Available Space: 100810 SqFt
- Number of Floors: 2
- Cap Rate: 4.18%
- Construction: Framed
This Listing Supplied Courtesy of The Paragon Group
Information is based on data available to the associate, including county records.
The information has not been verified by the associate and should be verified by the buyer.
Properties with the CBA logo are listed by the Commercial Brokers Association
The associate of this site is not a multiple listing service but is a member of a local MLS.
