Download Marketing Package & Financial Summary Here

Download Newton_Sundance_Newton_IA_Marketing_Package_1-10-2017.pdf
  • Newton, IA is located 30 miles east of Des Moines
  • Within Minutes of Shopping, Restaurants, Parks, Schools, & Entertainment
  • Asking Rents are Well Below Max Net LIHTC Rents
  • 2 & 3 Bedroom Floor Plans

210 East 28th Street North
Newton, IA 50208

  • Status: Closed
  • Price: $1,275,000
  • # of Units: 40
  • Rentable SF: 33,904
  • Price per Unit: $31,875
  • Price per SF: $37.61
  • Year Built: 1999
  • # of Buildings: 2
  • Lot Size: 2.71 Acres
  • Density: 14.76 Units/ Acre
  • # of Stories: 2
  • Download Marketing Package:
  • Description:

    • Newton Sundance Apartments is a 40-unit affordable housing community located
      in Newton, IA. Within blocks of the property you’ll find public parks, schools,
      shopping, entertainment, and other area amenities. Residents benefit from well
      maintained grounds, on-site leasing office, and playground.

      Newton Sundance was built and placed into service in 1999 under the Section 42
      Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory
      agreement in place which requires all units to be rented to income qualifying
      residents earning no more than 60% of Area Median Income (AMI) limits, which
      are provided by Iowa Housing Finance Authority. 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 affordable housing units and to fulfill all requirements of an existing
      regulatory agreement.