Iowa LIHTC Portfolio

JLL is pleased to exclusively offer for sale the Iowa LIHTC Portfolio, a 172-unit Affordable Housing portfolio comprised of five mutli-family LIHTC communities strategically located throughout Central and Northeast Iowa. The Portfolio boasts a stable 95% effective occupancy and benefits from an average in-place rent discount of approximately $377 to 2026 maximum LIHTC rents and $288 to comparable market-rate apartments, positioning investors to capitalize on meaningful near-term organic rent growth while maintaining stable occupancy and strong resident retention.

The Portfolio is situated within undersupplied Iowa housing markets characterized by limited new multifamily development and sustained demand for quality affordable housing. Supported by robust AMI growth averaging 5.9% annually over the past five years and projected LIHTC rent growth of 3.2% in 2027, the Iowa LIHTC Portfolio offers investors a compelling value-add opportunity through continued affordable rent increases and future market-rate conversion potential at select properties. Comprised of five high-quality, well-maintained communities, the Portfolio represents an attractive affordable housing investment opportunity characterized by durable cash flow, geographic diversification, and long-term upside.