Zeal Property Advisors, LLC is pleased to present the exclusive offering of Sterling Creek Apartments (“The Property”), a 48-unit apartment community located just off Interstate 70 and Sterling Ave in Independence, Missouri. The Property currently operates under the Section 42 LIHTC program with 7 years remaining in the Extended Compliance Period. Prospective investors may take advantage of growing rents 7% annually for occupied units and full market rents on vacant units where $250 rent premiums have been achieved.
The Property is offered as a fee simple sale and offers prospective investors the opportunity to acquire a stabilized asset with value-add components in addition to several future capital events such as resyndicating with new 4% tax credits or applying for QCP in 2029. Prospective investors must agree to maintain the affordability restrictions under the Section 42 program through the Extended Compliance Period.