Chapel Ridge Of Sherwood

10401 Brockington Road, Sherwood, AR 72120
Status: Closed
Year Built: 2005
Price: $11,000,000
Price Per Unit: $68,750
Price Per SF: $73.40
# of Units: 160
# of Buildings: 14
# of Stories: 3
Rentable SF: 149,872
Lot Size: 9.45 Acres
Density: 16.93 Units/Acre

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Highlights:

  • 14 Buildings (including office/clubhouse)
  • High Historical Occupancy Experienced at the Property
  • Strong FMR Growth with Nearly a 20% Increase Since 2012 and an Unemployment Rate of Below 3%
  • Sherwood is Located in the Little Rock MSA which has a Population of 700,000
  • Located 6 Miles From the Little Rock Air Force Base and 12 Miles From Downtown Little Rock

 

Description:

Chapel Ridge of Sherwood Apartments is a 160-unit mixed income housing community located in Sherwood, AR.

Chapel Ridge of Sherwood was built and placed in service in 2005 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires at least 136 units to be rented to income qualifying residents earning no more than 60% of Area Median Income (AMI) limits, which are provided by Arkansas Development Finance Authority (ADFA). The remaining units are unrestricted.

Chapel Ridge of Sherwood offers one, two, and three bedroom apartment homes featuring washer/dryer connections, walk-in closets (in masters), extra storage, private patio/balcony, and a full appliance package. Community amenities include on-site maintenance, leasing office, on-site laundry facilities, community pool, fitness center, business center, clubhouse, playground, and  picnic areas.

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