Altitude on 5th

Description

A 330-unit LIHTC property located in downtown Salt Lake City, Utah. The property was acquired and nearly USD 1 million of capital improvements were made to increase competitiveness and maximize rents. Rents and occupancy are now at market levels and the asset is now stabilized with 2016 budgeted yields of 9.5%. Going forward, this property is well positioned to benefit from continued rent growth, espcially on its market units.

City
Salt Lake City
State
Utah
Aquisition date
February 2016
Number of units
330
Surface area
22823 m2
Fair value
38.2 Mio USD