Natchitoches Homes

138 Airport Road, Natchitoches, LA 71457
Status: Available
Year Built: 2002
Price: $1,525,000
For more information please contact:
john@lihtcadvisors.com
In Cooperation with:

In Cooperation with:
Larry G. Schedler, CCIM
Larry G. Schedler & Associates, Inc.
One Lakeway
larry@larryschedler.com
Licensed in LA, MS, AL

Price Per Unit: $39,103
Price Per SF: $34.86
# of Units: 39
# of Buildings: 39
# of Stories: 1
Rentable SF: 43,750
Lot Size: 10 Acres
Density: 3.9 Units/Acre

Highlights:

  • Property is Eligible to be Converted to Market Rate Through the Qualified Contract Process
  • LIHTC Property Consisting of 39 Single Family Homes Located Near Schools, Area Amenities, and the Natchitoches Regional Airport
  • Home to Northwestern State University, Offering More than 50 Degree Programs and an Enrollment of Over 10,000
  • Rental Upside Opportunities Based on Rent Comps and Market Conversion
  • Natchitoches Top Employment Industries are in Healthcare, The Public and Private School Systems, and Retail/Tourism
  • The Property is Located within a Qualified Census Tract and an Opportunity Zone

Description:

Natchitoches Homes is a 39-unit affordable housing community located in Natchitoches, LA. The property is conveniently located close to the Natchitoches Regional Airport, Northwestern State University, restaurants, and major retailers such as Walmart. The property is comprised of three and four bedroom single family style homes  that come equipped with washer and dryer connections, a kitchen with a dishwasher and disposal, large private front yards, a covered front porch, and a private driveway.

Natchitoches Homes was built and placed in service in 2002 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 60% of Area Median Income (AMI) limits, which are provided by the Louisiana Finance Housing Agency.

Natchitoches is a city and the parish seat of Natchitoches Parish, Louisiana, with a population of 18,323. Established in 1714 by Louis Juchereau de St. Denis as part of French Louisiana, the community was named after the indigenous Natchitoches people.

Stretched along the banks of the beautiful Cane River, Natchitoches is home to state historic sites, Creole plantations, and museums all within the boundaries of the Cane River National Heritage Area. Outdoor recreational opportunities revolve around water sports. Since the late 20th century, the 35-mile oxbow lake has served as the spring-break training location for numerous university crew teams, from schools such as the University of St. Thomas, Kansas State University, University of Kansas, Wichita State University, Murray State University, University of Central Oklahoma, Washington University,  and Northwestern State University.

Northwestern State University offers more than 50 degree programs and complete accreditation of all of its degree programs. Fall 2017 total enrollment was 10,572, the largest in the university’s 133-year history.

The Port of Natchitoches—a river port on the Red River—is located off the eastbound part of U.S. Route 84, just outside Natchitoches. The port exports lumber from yards onsite as the forestry industry is a major contributor to the local economy. The cities top industries are in healthcare, the public and private school systems, and retail/tourism.

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