Walker & Dunlop Markets 48-Unit San Joaquin Vista Apartments in California
Walker & Dunlop Affordable Investment Sales is marketing the acquisition of San Joaquin Vista Apartments, which has 48 units of affordable housing, which are located in Firebaugh, California. The property is situated in Fresno County's San Joaquin Valley and occupies approximately 2.76 acres of land.
Constructed in 2000, this community consists of nine buildings that have two storeys. The property was built in accordance with the federal program known as 9% Low-Income Housing Tax Credit (LIHTC) that comes in handy while building affordable rental housing solutions.
This property consists of different types of 2-bedroom, 3-bedroom and 4-bedroom apartments. Apart from one, all the units are limited to either 45% Area Median Income (AMI) or 50% Area Median Income (AMI) based on LIHTC Land Use Restrictive Agreement (LURA).
The property complied with 15-year time period of tax for credits until 2015 but extends until 2055.
Property features and amenities
The apartments are characterized by an open layout design, complete kitchens, massive wardrobes, washing machine, and dryer openings, balcony/ patio of the occupants’ own.
The shared amenities of the facility are a common laundry area, grilling and picnic zone, play area for kids, basket court, club house, and parking spots. The combination of family-sized apartments and shared recreational facilities serves the property's affordable housing profile.
Location and surrounding market
San Joaquin Vista is situated in Firebaugh, a community in western Fresno County. The local economy is closely connected to agriculture, food processing and related industries, which provide employment across the surrounding region.
The property also has access to State Route 33, connecting Firebaugh with nearby agricultural communities and employment centres across California's Central Valley. Schools, grocery stores, healthcare providers and other essential services are available within the surrounding area.
Walker & Dunlop is presenting the property as an investment opportunity within the county's affordable multifamily housing market. The offering highlights its established residential operations, existing income-restricted housing units and location within an agriculture-driven employment market.
No acquisition price or completed transaction was disclosed in the announcement.
