Gila River I and 2

09-08-2021
09-09-2021

232 N Chalmers Ln. and 235 Eliza Ln., THATCHER, AZ 85552

  • 2 LIHTC communities with stable existing operations  
  • Tremendous opportunity to increase asking rents as current market rents are significantly below max allowable LIHTC rent limits  
  • The assets are qualified contract eligible allowing the opportunity to terminate the LURA's and capitalize on market rate asking rents
  • Clean and well-maintained assets featuring beautiful landscaping, a resort style pool, resident leasing office, and community playground

Property Description

Gila I & Gila II are two adjacent 40-unit (80-units total) garden-style, LIHTC communities, located in the city of Thatcher, AZ. The properties feature one-, two-, and three-bedroom spacious floor plans averaging ±732 and ±1,011 square feet. Both assets are qualified contract eligible and investors have the opportunity to terminate the existing LURA's and convert the restricted units to market rate. Built in 2006, the units feature tile flooring, granite-inspired countertops, private balconies and patios, ceiling fans, and microwaves.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
No. of Units
80
Year Built
2006
Building Size
69,708 Sq ft
Opportunity Zone
Off
Price per unit
$ 0
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32.841107, -109.741914

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