LIHTC Advisors - LoopNet

LIHTC Advisors

Shandon Park Apartments

36 Units | 3020 Lerwick Drive | Rawlins, WY 82301

EXCLUSIVE OFFERING

LIHTC Advisors

12639 W. Explorer Drive Suite 200 Boise, ID 83713

CONFIDENTIALITY & DISCLAIMER

Jordan Skyles 800.840.3021 (phone) 208.631.4981 (direct) 888.506.2771 (fax) jordan@

John Nicolas 800.840.3021 (phone) 208.891.8901 (direct) 888.506.2771 (fax) john@

Jeff Irish 800.840.3021 (phone) 208.286.5013 (direct) 888.506.2771 (fax) jeff@



In Cooperation with:

Greg Thomas WY Broker of Record Thomas & Moorehead 307-630-5637 (cell) greg.thomas@

The information contained in this package is confidential and is intended for review solely by the person receiving it directly from LIHTC Advisors. It should not be copied, distributed, nor made available to any person without the written consent from LIHTC Advisors. The information in this package has been obtained from sources we believe reliable.

However, LIHTC Advisors has not verified and will not verify, any of the information contained herein and makes no guarantee, warranty, or representation about it. It is the sole responsibility of any interested parties to independently confirm the accuracy and completeness of the information provided herein. All prospective clients must conduct their own due diligence and take appropriate measures to verify all information.

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Shandon Park

36 Units 3020 Lerwick Drive Rawlins, WY 82301

Table of Contents

PROPERTY OVERVIEW Description

Area Highlights Summary Area Maps

FINANCIAL ANALYSIS Executive Summary Income & Expenses Cash Flow Summary Unit Mix

Income & Rent Limits Historical AMI, MAX Rent, & FMR

COMPARABLE PROPERTIES Rent Comparables Map

Rental & Occupancy Statistics Rent Comparable Details

DEMOGRAPHIC ANALYSIS Demographic Analysis

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Property Overview

HIGHLIGHTS

? Section 42 LIHTC Property Built & Placed into Service in 1999

? Favorable WCDA HOME Financing that is Assumable by New Buyer

? Income Limits are Higher than Rental Limits on Respective Units Allowing for a Larger Prospective Tenant Pool

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Property Description

Shandon Park Apartments is a 36-unit LIHTC property located in Rawlins, Wyoming. The property offers a mix of spacious two bedroom and three bedroom floor plans to income qualifying residents. Conveniently located, Shandon Park is within minutes to local schools, Interstate 80, and the Rawlins Municipal Airport.

Shandon Park was built and placed in service in 1999 under the Section 42 LowIncome Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place with the Wyoming Community Development Authority, which requires all units to be rented to income qualifying tenants earning no more than 50%, and 60% of the Area Median Income. The property is out of the initial 15-year tax credit compliance period. Please see the Property Summary page and Unit Mix page for further details. A qualified purchaser can be a non-profit or forprofit entity that agrees to maintain the affordable housing units and to fulfill all requirements of an existing regulatory agreement.

Residents benefit from an on-site leasing office, playground, and on-site maintenance. Unit amenities include full appliance package, extra storage, washer and dryer hook-ups, and private patio/balcony.

COMMUNITY AMENITIES

? On-Site Laundry Facilities ? Community Room ? Playground

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LIHTC ADVISORS

UNIT AMENITIES ? Full Appliance Package ? Open Floor Plan ? Patio/Balcony ? Extra Storage

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Rawlins, Wyoming has a population of 9,040 and is the county seat for Carbon County, the third largest county in the state, with a population of 15,885.

Rawlins is located in the south central part of Wyoming, 150 miles west of Cheyenne, WY, 290 miles east of Salt Lake City, UT, and 160 miles north east of Ft. Collins, CO. This part of Wyoming is replete with ranching heritage, pioneer legacy, and railroad history. A strong mining tradition clings to many of the towns as well, due to the plentiful coal deposits that give Carbon County its name.

Wyoming is a land of wide-open spaces, breathtaking views, and has an abundance and diversity of wildlife found no where else. Rawlins is home to an abundance of outdoor recreation including, hunting, fishing, camping, rafting, and hot springs.

Rawlins largest employment industries are construction, manufacturing, and public administration.

ECONOMY COST OF LIVING POPULATION REAL ESTATE

Area Highlights

Recent job growth in Carbon County is positive. Jobs have increased by 1.0% since January 2017. Rawlins cost of living is 6% lower than the state average and 9% lower than the rest of the country as of Q4 2016. Rawlin's population is 9,040 people.

The median home cost in Rawlins is $141,600. Median rent is $810 a month.

SOURCE: ,

NEIGHBORHOOD AMENITIES

LOCATION HIGHLIGHTS

TOP EMPLOYMENT INDUSTRIES

? Rawlins Elementary School (0.4 miles) ? Population: 9,040

? Rawlins High School (1.9 miles)

? Carbon County is the 3rd

? Carbon County Higher Education

largest county in the state

Center (2.1 miles)

? Walmart (2.3 miles)

? Construction ? Manufacturing ? Public Administration

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Property Summary

NAME & LOCATION

Property Name Property Address

SECTION 42 LIHTC RESTRICTIONS

Placed in Service End of Initial Compliance Period End of WCDA Compliance Period End of WCDA Extended Use Period End of HOME Affordability Period

SITE INFORMATION

Assessor's Parcel Number Number of Units Number of Buildings Number of Stories Rentable Square Feet Year Built Lot Size Density Type of Ownership Landscaping Topography

UTILITIES

Water Electric Gas

CONSTRUCTION

Exterior Roof

Shandon Park Apartments 3020 Lerwick Drive Rawlins, WY 82301

1999 12/31/2013 12/31/2033 12/31/2048 12/31/2029

21870440111800 36 7 (5 apartment buildings, 1 office, and 1 garage building) 2 36,504 1999 3.22 Acres 10.86 Units/Acre Fee Simple Mature Trees, Shrubs & Grass Relatively Flat

City of Rawlins Rocky Mountain Power Amerigas

Vinyl Siding Composite Shingle

# OF UNITS

36

RENTABLE SF

36,504

PLACED IN SERVICE

1999

LOT SIZE

3.22 acres

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Aerial Map

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