Map pinPacheco Street 1899, Santa Fe, NM, 87505, US

Tres Santos Apartments

Tres Santos Apartments_Property for Sale

Attributes

Units
136 units
Occupancy
95%
Year built
2008
Building area net
9,653 sm
Land area gross
1.38 ha

Asset description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale Tres Santos Apartments, a 136-unit LIHTC Property in Santa Fe, NM. Conveniently located, Tres Santos is just a 5-minute drive to Downtown Santa Fe and the submarket’s largest employer, Christus St. Vincent Regional Hospital. The Property has showcased strong leasing momentum with GPI growth of over 9.9% in 2023. Additionally, since October 2023, the Property is achieving max LIHTC rents even with staggering 18.6% max rent growth in 2023. Investors will benefit from further revenue growth as remaining units can be increased to the LIHTC max rents and the $600+ spread to prevailing market-rate rents will drive long-term demand and consistent cash flow at the Property.

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Investment highlights

  • Stable, Bond-Like Cashflow
  • Strong Leasing Momentum & Max Rent Growth
  • Rent Burdened Market and Insufficient Supply of Affordable Units
  • Proximity to Local Economic Drivers
Tres Santos Apartments 4_Property for Sale
Tres Santos Apartments 4_Property for Sale
Tres Santos Apartments (0 Properties)

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Last updated
May 2, 2024