Crescent Club Apartments

4100 South Rio Grande Avenue Orlando, FL 32839
Status: Available
Year Built: 2002
Price: UNRPRICED OFFERING
For more information please contact:
brandon@lihtcadvisors.com
In Cooperation with:

Jeff Dilbone
Investment Property Advisors
513-489-1500 (office)
jeffdilbone@investmentpa.com

# of Units: 215
# of Buildings: 7
# of Stories: 3
Rentable SF: 149,457
Lot Size: 7.00 acres
Density: 30.71 Units/Acres

Highlights:

  • Maximum Allowable Rents in Orange County Increased by Over 13% from 2017 to 2019 with an Additional Increase of 4.75% Projected in 2020
  • The Occupancy Rate Seen at the Property in 2019 was Nearly 99%
  • Orlando is One of the Fastest Growing Metros in the Nation and has Seen Job Growth Over Twice the National Average Since 2014
  • Great Location Just Over 5 Miles from Universal Studios & 14 Miles from Walt Disney World Resort

Description:

Crescent Club Apartments is a 215-unit affordable housing community for seniors located in Orlando, FL. Residents enjoy access to major shopping areas, dining, and interstates, as well as peaceful surroundings near various small lakes and an array of amenities. The property is also conveniently close to the Orlando Health Regional Hospital. The famous Universal Studios and Walt Disney World also offers residents a variety of entertainment opportunities.

The property was built in 2002 and placed in service in 2003 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 28%, 30%, and 60% of Area Median Income (AMI) limits, which are provided by the Florida Housing Finance Corporation. The property is beyond its initial tax credit compliance period.

Residents benefit from community amenities such as a clubhouse, relaxing courtyard with fountains, fitness center, on-site laundry facility, swimming pool, gameroom, a hair salon, free health screenings, on-site resident activities, shuffleboard, picnic pavilion, elevators, library, business center, car wash area, gated access, and security system. Crescent Club offers one and two bedroom units that include a full kitchen appliance package, large closets, ceiling fans, and balconies in select units.

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