Farmhouse Apartments

101 Jackrabbit Lane, Belgrade, MT 59714
Status: Closed
Year Built: 1996- 2000
Price: CONTACT AGENT
# of Units: 60
# of Buildings: 7
# of Stories: 2
Rentable SF: 43,880
Lot Size: 5.49 Acres
Density: 10.93 Units/Acre

Highlights:

  • Existing LIHTC Property Placed into Service in 1996, 1997, & 2000
  • Current Rents are Below Max Net Rents
  • Located 11 Miles from Bozeman

Description:

Farmhouse Apartments is a 60-unit affordable housing community located in Belgrade, MT.  The property was built and placed in service in 1996, 1997, & 2000 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. The property is located within minutes to retail, schools, restaurants, and Bozeman Yellowstone International Airport.

Recent improvements include re-sealed & re-striped parking lots, painted curbs & speed bumps, repaired & replaced chipped sidewalks, new property sign, replaced common area carpets in select buildings, painted entrance decks & stairs, and landscape work.

Farmhouse I was built and placed in service in 1996 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires units to be rented to income qualifying residents earning no more than 60% of Area Medium Income (AMI) limits, which are provided by the Montana Housing Authority.

Farmhouse II was built and placed into service in 1997 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires units to be rented to income qualifying residents earning no more than 60% of Area Medium Income (AMI) limits, which are provided by the Montana Housing Authority.

Farmhouse III was built and placed into service in 2000 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires units to be rented to income qualifying residents earning no more than 50% of Area Medium Income (AMI) limits, which are provided by the Montana Housing Authority.

The property is out of its initial 15-year tax credit compliance period. Please see the Property Summary page for further details. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordability restrictions.

Farmhouse Apartment community offers one and two bedroom apartment homes featuring full appliance package, open floor plan, on-site leasing office, on-site laundry facility, and playground.

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