KINGSWAY APARTMENTS

Download Marketing Package & Financial Summary Here

Download Kingsway_King_NC_Marketing_Package.pdf
KINGSWAY APARTMENTS
  • Existing LIHTC Property Placed in Service in 2000
  • Current Rents are Below Max Net Rents
  • King is Located in the Piedmont Triad and is Less than an Hour from Greensboro and Winston-Salem
  • Priced Well Below Replacement Cost

116 Ohara Circle
King, NC 27021

  • Status: Available
  • Price: $1,000,000
  • # of Units: 28
  • Rentable SF: 25,692
  • Price per Unit: $35,714
  • Price per SF: $38.92
  • Year Built: 2000
  • # of Buildings: 8
  • Lot Size: 3.23 Acres
  • Density: 8.67 Units/ Acre
  • # of Stories: 2
  • Download Marketing Package:
  • Description:

    • Kingsway Apartments is a 28-unit affordable housing community located in King, NC.  The property is located within minutes to retail, schools, restaurants, and other area amenities.

      Kingsway was built and placed in service in 2000 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires units to be rented to income qualifying residents earning no more than 50% HOME and 60% of Area Medium Income (AMI) limits, which are provided by the North Carolina Federal Tax Reform Allocation Committee. The property is out of its initial tax credit compliance period. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordability restrictions.

      The property offers two and three bedroom apartment homes featuring full appliance package, central heat & air, on-site leasing office, and playground.

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