IVEYWOOD PARK APARTMENTS I & II

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Download Iveywood_Park_Gaffney_SC_Marketing_Package.pdf
IVEYWOOD PARK APARTMENTS I & II

 

  • Easy Access to Interstate 85
  • Conveniently Located Close to Schools, Restaurants, Shopping, and Less Than One Hour from Charlotte International Airport
  • Property is Out of Its Initial Compliance Period
  • Minimal Deferred Maintenance
  • New Financing Available

112 Martin Lane
Gaffney, SC 29341

  • Status: Closed
  • Price: CONTACT AGENT
  • # of Units: 96
  • Rentable SF: 99,456
  • Year Built: 1998
  • # of Buildings: 13
  • Lot Size: 10.17 Acres
  • Density: 9.43 Units/Acre
  • # of Stories: 2
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  • Description:

    • Iveywood Park Apartments is a 96-unit affordable housing community located in Gaffney, SC.  Within minutes of the property you’ll find parks, shopping, restaurants, and schools.

      Iveywood Park was built and placed into service in 1998 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing LIHTC and HOME regulatory agreements in place with the South Carolina State Housing Finance and Development Authority. The property is out of its initial tax credit compliance period.

      Currently, the property has 13 units under HOME restrictions. However, these restrictions expire on January 5, 2018 and rents in these units can then be raised to the LIHTC 60% AMI limits. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordable housing units and to fulfill all requirements of an existing regulatory agreement. 

      Residents benefit from a multitude of community amenities including a clubhouse, 24-hour on-site maintenance, on-site laundry facility, and playground. Unit amenities include an open floor plan and fully equipped kitchen with full appliance package.

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