Central Court Village

78 27th Street West, Billings, MT 59102
Status: Available
Year Built: 2000
For more information please contact:
brandon@lihtcadvisors.com
# of Units: 81
# of Buildings: 1
# of Stories: 3
Rentable SF: 48,925

Highlights:

  • The Yellowstone County AMI Increased from $67,700 in 2017 to $79,200 in 2019
  • Significant Rental Upside with Both 50% and 60% Set-Aside Units Well Below the Maximum Allowable Rent
  • The Buyer of the Property Would be Eligible to Receive a Full Property Tax Exemption with the Inclusion of a Non-Profit Partner per Montana Code 15-6-221
  • Very Strong Occupancy at the Property with a 2019 Vacancy Rate of Below 3%
  • Billings Lacks Quality Market Rate Senior Housing and has Strong Demographics to Support the Demand for the Housing
  • Well Maintained Senior Property with New Composite Siding and Roofs

Description:

Central Court Village is an 81-unit affordable housing community for seniors located in Billings, MT. Residents enjoy a quiet lifestyle with easy access to shopping, healthcare, and major transportation arteries I-90 and I-84 that connect to downtown Billings. Golf courses, hiking, biking, and running trails are also nearby.

There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 50% and 60% of Area Median Income (AMI) limits, which are provided by the Montana Board of Housing. The property is beyond its initial tax credit compliance period.

Residents benefit from community amenities such as a clubhouse, covered parking, on-site laundry facilities, fitness room, and game room. Units are outfitted with a full appliance package, air conditioning, garages, and high-speed internet access.

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