Kearney Plaza Homes

2815 West La Platte Road, Kearney, NE 68845
Status: Available
Year Built: 2006
Price: $1,350,000
For more information please contact:
mike@lihtcadvisors.com
In Cooperation with:

Vaughn Zimmerman
Zimmerman Properties

Price Per Unit: $84,375
Price Per SF: $70.31
# of Units: 16
# of Buildings: 16
# of Stories: 1
Rentable SF: 19,200
Lot Size: 4.00 Acres
Density: 4 Units/Acre

Highlights:

  • Conveniently Located Close to Schools, Retail, and Restaurants
  • Located in an Opportunity Zone and Qualified Census Tract
  • Rents are Below Max Net Rents
  • Strong AMI Growth in the County with an Increase of 13.08% Since 2016
  • The Property is 1.4 Miles Away From the University of Nebraska Kearney

Description:

Kearney Plaza Homes is a 16-unit affordable housing community located in Kearney, NE. Kearney Plaza Homes is conveniently located near public schools, parks, shopping, and restaurants.

The property was built and placed in service in 2006 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 58.53% AMI (Area Median Income) limits, on average, which are provided by the Nebraska Investment Finance Authority (NIFA). The property also has an agreement with NIFA to provide the Crown Program, a lease-to-own housing program, to residents. The property is still within the initial tax credit compliance period. Further more, the properties are eligible to be converted to market through the qualified contract process allowing the homes to be individually sold at a significant premium to acquisition cost.

Kearney Plaza Homes offers three bedroom single family homes featuring a fully equipped kitchen, plentiful storage, and attached two car garages with opener.

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