South Dakota HAP Portfolio
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South Dakota HAP Portfolio
5 Residential Properties in Multiple Locations
Investment Highlights
- 4/5 communities have LIHTC overlay
- 94% of Portfolio is covered under a Project-Based Section 8 HAP Contract
- High REAC scores
Executive Summary
The Offering is comprised of five communities across South Dakota totaling 163 units. All communities but one are 100% covered under individual Project-Based Section 8 HAP Contracts. Jefferson Court, located in Watertown has 14/24 units (58%) covered under an Option 2 HAP contract, but the non-HAP units remain affordable under LIHTC restrictions.
Taxes & Operating Expenses (Pro forma - 2024) Click Here to Access |
Annual |
|---|---|
| Gross Rental Income |
-
|
| Other Income |
-
|
| Vacancy Loss |
-
|
| Effective Gross Income |
-
|
| Net Operating Income |
$99,999
|
Taxes & Operating Expenses (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 135,392 SF |
| Number of Properties | 5 | Total Land Area | 7.45 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 135,392 SF |
| Total Land Area | 7.45 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
River Ridge Apartments
210 3rd St W, Mobridge, SD 57601 |
Residential | 51,300 SF | - | - |
|
Green Briar Apartments
503 15th St S, Brookings, SD 57006 |
Residential | 24,000 SF | - | - |
|
Jefferson Court
400 11th St NE, Watertown, SD 57201 |
Residential | 21,504 SF | - | - |
|
StoneBridge Apartments
102 8th Ave SW, Watertown, SD 57201 |
Residential | 15,552 SF | 1971 | - |
|
Golden Manor Apartments
620 N 11th St, Spearfish, SD 57783 |
Residential | 23,036 SF | - | - |
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Monica Danek -
Michael Yangas -
Performance Real Estate Advisors
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South Dakota HAP Portfolio
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