Terrace at Mount Scott Apartments
52 Unit Apartment Building | For Sale | Happy Valley, OR 97086
For Sale
Active
- Date Added:
- September 16, 2024
- Days on Market:
- 2 days
- Property Type
-
Multifamily
- Square Feet
- 75,141 SF
Listing Contacts
Hugh Holtman
Verified Profile
- Property Info
Property Overview
The Terrace at Mount Scott is a 52 unit LIHTC property in Happy Valley, OR, providing housing for income qualifying tenants who meet 50-60% of the area median income. Conveniently located in Clackamas County, with easy access to Interstate 205, the property boasts sweeping view and offers access to restaurants, shopping, and area amenities.
The property was built and placed in service in 2006 utilizing the Section 42 Low Income Housing Tax Credit (LIHTC) program, with the competitive 9% tax credits, placing restrictions on 51 of the 52 units. Due to a Home Loan Agreement with Clackamas County, ten units were set aside to accommodate Low and High HOME units. Although out of the initial 15-year compliance period since the end of 2021, the affordable restrictions last until 2046.
The property was built and placed in service in 2006 utilizing the Section 42 Low Income Housing Tax Credit (LIHTC) program, with the competitive 9% tax credits, placing restrictions on 51 of the 52 units. Due to a Home Loan Agreement with Clackamas County, ten units were set aside to accommodate Low and High HOME units. Although out of the initial 15-year compliance period since the end of 2021, the affordable restrictions last until 2046.
Property Details
- Class
- B
- Year Built
- 2006
- Stories
- 4
- Lot Size (sq. ft)
- 121,968 SF
- Units
- 52
Highlights
- LIHTC Property Out of Initial Compliance Period
- In Extended Use Period (through 2046)
- New roof in 2021, Recent HVAC Updates
- Secure Access, Community Garden, Community Room, and Bike Rooms
- Large 2 & 3 Bedroom Units with Sweeping views
Nearby Properties
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