CHARLESTON Portfolio

vista view & vandalia terrace apartments | charleston, wv

OVERVIEW

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The Jennifer Stein Real Estate Inc, serving as the exclusive listing agent, in cooperation with the Affordable Housing Group as out of state brokers are delighted to present the exceptional opportunity to acquire the Charleston Portfolio. This impressive portfolio comprises of 405 units – 404 multifamily units, all of which are 100% project-based Section 8 housing and 1 rent-free manager’s unit.

Situated in the desirable city of Charleston, WV, the portfolio consists of two properties, namely Vista View and Vandelia Apartments, conveniently located in close proximity to the State Capitol. This offering presents a remarkable chance to engage in a value-add investment of institutional scale, set in one of Charleston’s most renowned and sought-after locations.

The Charleston Portfolio is being offered without an asking price.

Investment Highlights

Location

Portfolio of 333 & 72 Family Units located ~3 miles apart

Vista View is located 1.5 miles from the WV State Capitol & Vandalia Terrace is 2.7 miles away from BridgeValley Community & Technical College

value

P100% Project-Based Section 8; HAP contracts expiring 2037 and 2025

REAC scores of 92b* & 89b* as of 2022   

Tax abatement available for nonprofits

Opportunity

Opportunity for rehab & LIHTC syndication

Opportunity for management upside through vacancy and expense reductions

Listing broker

Jennifer D. Stein

Jennifer D. Stein

Jennifer Stein Real Estate Inc.

OUT-OF-STATE COOPERATING BROKERS

John L Nguyen

John L Nguyen

Managing Director

   Affordable Housing Group

  • MOBILE: 714-356-5049
  • DIRECT: 949-497-9100 x1
  • EMAIL: john@national-ahg.com
  • LIC NO.: 01303273
Jesse Elsanhuty

Jesse Elsanhuty

Managing Director

   Affordable Housing Group

  • MOBILE: 562-320-3614
  • DIRECT: 949-497-9100 x2
  • EMAIL: jesse@national-ahg.com
  • LIC NO.: 01773542
Brian Luethke

Brian Luethke

Director

   Affordable Housing Group

  • MOBILE: 201-983-7727
  • DIRECT: 949-497-9100 x4
  • EMAIL: brian@national-ahg.com
  • LIC NO.: 02191657