Tax Credit Sale Near Oklahoma City
Affordable Housing Investment Brokerage, Inc. represented the seller of the 42-unit Lindens Apartments in Ada, Oklahoma. The tax credit property was placed in service in 2003 and is currently beyond its initial compliance period, with restrictions continuing through 2043. The tax credit sale also included approximately 6.0 acres of unoccupied residential zoned land. The property and adjacent land are located in QCT as well as Opportunity Zone.
Lindens Apartments offers large two and three bedroom units and was fully occupied at the time of sale. All units have private entrances and offer single garages with an additional fee. The property has 21 units with rent restricted at 50% AMI and the other half are restricted at 60% AMI. Lindens Apartments is located approximately 90 miles from Oklahoma City and is situated off of a major roadway, making it easily accessible to travel. The transaction was under contract within 60 days of marketing and was successfully brought to close by AHIB’s Dan Piatkowski approximately three months following.