Beacon Manor

2308 Douglas Road, Ferndale, WA 98248
Status: Closed
Year Built: 1998
Price: $2,850,000
Price Per Unit: $55,882
Price Per SF: $56.07
# of Units: 51
# of Buildings: 3
# of Stories: 3 & 4
Rentable SF: 50,828
Lot Size: 2.31 acres
Density: 22.08 Units/Acre

Quick Stats:

  • Convenient Access to I-5 and Area Amenities
  • Well Maintained LIHTC Property Built & Placed into Service in 1998
  • Historically Low Vacancy
  • Balanced Mix of 2 Bedroom, 3 Bedroom, and 4 Bedroom Floor Plans

Description:

Beacon Manor Apartments is a 51-unit affordable housing community located in Ferndale, WA. The property was built and placed in service in 1998 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. It is conveniently located with easy access to I-5, downtown Ferndale, and the Ferndale Station retail center.

There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 30% and 60% of AMI income limits which are provided by Washington State Housing Finance Commission (WSHFC). The property is out of the initial tax credit compliance period and has extended use restrictions in place until December 31, 2038.

Beacon Manor offers spacious 2, 3, and 4 bedroom floor plans.  Residents benefit from common area amenities including an on-site leasing office, a central laundry room, playground, and picnic area. Unit amenities include full appliance package with dishwasher, washer/dryer in select units, and private patio/balcony.

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