Village At Kings Canyon

962 South Pierce Avenue, Fresno, CA 93727
Status: Closed
Year Built: 2005
Price: CONTACT AGENT
# of Units: 48
# of Buildings: 5
# of Stories: 2 & 3
Rentable SF: 45,515
Lot Size: 2.6625 Acres

Highlights:

  • Located within Walking Distance to Schools, Winco, & Walmart Supercenter
  • Fresno MSA Employment has Outpaced U.S. Average with Growth of 3%+ from 2013-2016
  • Less Than 3 Miles from Fresno Yosemite International Airport
  • Fresno Market Vacancy Rate is 3.6% (Property Currently 100% Occupied)

Description:

Village at Kings Canyon is a 48-unit housing community located in Fresno, CA. Within blocks of the property you will find parks, shopping, restaurants, schools, entertainment, public transportation, and major employers. The property is within close proximity to State Routes 41, 99, & 180, which provides quick access to downtown Fresno. Currently, downtown Fresno is experiencing major gentrification, which includes construction of a high speed rail and renovation of the Fulton Street Mall.

The Property 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 with the California Tax Credit Allocation Committee (TCAC),  requiring units to be rented to income qualifying tenants earning no more than 30%, 40%, 50%, 55%, and 60% of the Area Median Income (AMI) limits, which terminates  in December 2059. Additionally, there is a City of Fresno HOME Agreement with affordability restrictions in place estimated to end in 2030. The property is still within the initial tax credit compliance period. A qualified purchaser can be a non-profit or for-profit entity that agrees to maintain the affordable housing units and to fulfill all requirements of the existing regulatory agreements.

Residents benefit from a convenient location on the public transit line, playground, community room/leasing office, on-site laundry facility, full appliance package, and open floor plans.

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