Bonner Highlands Bonner Springs KS

Transcription

EXCLUSIVE OFFERING
Bonner Highlands Apartments • 48 Units
13132 Kansas Avenue • Bonner Springs, KS 66012
LIHTC Advisors in cooperation with Steven Gasperi with Gasperi Group Commercial Real Estate, LLC
BONNER HIGHLANDS APARTMENTS
CONFIDENTIALITY AND DISCLAIMER
The information contained in this package is confidential and is intended for review solely by
the person receiving it directly from LIHTC Advisors. It should not be copied, distributed, nor
made available to any person without the written consent from LIHTC Advisors. The information in this package has been obtained from sources we believe reliable. However, LIHTC Advisors has not verified and will not verify, any of the information contained herein and makes no
guarantee, warranty, or representation about it. It is the sole responsibility of any interested
parties to independently confirm the accuracy and completeness of the information provided
herein. All prospective clients must conduct their own due diligence and take appropriate
measures to verify all information.
FOR MORE INFORMATION, PLEASE CONTACT:
LIHTC Advisors
12639 W. Explorer Drive, Suite 200
Boise, ID 83713
John Nicolas
800-840-3021 (phone)
208-891-8901 (direct)
888-506-2771 (fax)
[email protected]
Jeff Irish
800-840-3021 (phone)
208-286-5013 (direct)
888-506-2771 (fax)
[email protected]
www.lihtcadvisors.com
Steven M. Gasperi
President
Gasperi Group Commercial Real Estate, LLC
4901 West 136th Street
Leawood, KS 66224
913-563-6730 (office)
816-591-9764 (cell)
The information in this marketing package has been obtained from sources that we believe are reliable, and is for informational purposes only. We make no
representations or warranties, expressed or implied, as to the accuracy of the information. The value of this transaction depends on tax and other factors
which should be evaluated by your tax, financial, and legal advisors. You and all related parties should conduct a careful, independent investigation on the
property to determine your satisfaction and whether or not it will meet your specific needs and goals.
2
Table of Contents
FINANCIAL ANALYSIS
Financial Summary
Income & Expenses
Tax Statement
Cash Flow Summary
Unit Mix
Tax Credit Property Income & Rent Limits
Historical AMI and MAX Rent
PROPERTY OVERVIEW
Description
Area Highlights
Apartment Market Highlights
Summary
Features
Photos
Area Maps
COMPARABLE PROPERTIES
Rent Comparables Map
Rental & Occupancy Statistics
Rent Comparable Details
DEMOGRAPHIC ANALYSIS
Demographic Report
Demographic Analysis
3
4
Financing
Loan Amount
$1,537,500
Interest Rate
5.15%
Amortization Period
Loan Term
360
7 Years
Annual Debt Service
Loan to Value %
$100,742
75%
PROFORMA Debt Coverage Ratio
Program
1.46
CONVENTIONAL
Financial Summary
PRICING FIGURES
List Price
$2,050,000
Price per Unit
$42,708
Price per SF
$47.28
YE 2013- VITAL DATA
CAP Rate
6.73%
NOI
$137,937
Debt Service
$100,742
Net Cash Flow After Debt Service
$37,195
PROFORMA- VITAL DATA
CAP Rate
7.16%
NOI
$146,785
Debt Service
$100,742
Net Cash Flow After Debt Service
$46,043
FINANCIAL ANALYSIS
PROPOSED NEW FINANCING
5
Income & Expenses
PER
YE 2013
UNIT
PROFORMA
UNIT
All Units at Market Rent
$347,777
$7,245
$360,076
$7,502 (1)
POTENTIAL RENTAL INCOME
$347,777
$7,245
$360,076
$7,502
$9,740
$203
$9,935
$207
$357,517
$7,448
$370,011
$7,709
INCOME
Total Other Rental Income
GROSS POTENTIAL INCOME
Economic Loss
Vacancy Loss
4.08%
($14,191)
($296)
4.00%
($14,403)
($300)
Bad Debt
0.07%
($239)
($5)
0.25%
($900)
($19)
Concessions
0.14%
($485)
($10)
0.25%
($900)
($19)
4.29%
($14,915)
($311)
(2) 4.50%
($16,203)
($338)
$342,602
$7,138
$353,808
$7,371
Total Economic Loss
EFFECTIVE GROSS INCOME
EXPENSES
FIXED OPERATIONAL EXPENSE
Total Real Estate Property Taxes
9%
$31,068
$647
10%
$34,637
$722 (3)
Total Property Insurance Expense
4%
$13,435
$280
4%
$13,704
$285
12%
$42,814
$892
12%
$43,670
$910
25%
$87,317
$1,819
26%
$92,010
$1,917
Total Maint. Contract Services
3%
$11,745
$245
3%
$11,980
$250
Total Repairs & Maintenance
6%
$21,902
$456
6%
$22,340
$465
Total Administrative Expenses
5%
$16,028
$334
3%
$10,800
$225
12%
$41,148
$857
12%
$41,971
$874
5.25%
$18,000
$375
4.50%
$15,921
$332
TOTAL VARIABLE OPERATIONAL EXP
32%
$108,823
$2,267
29%
$103,012
$2,146
TOTAL FIXED & VARIABLE EXPENSES
57%
$196,140
$4,086
55%
$195,022
$4,063
$8,526
$178
$204,666
$4,264
$137,937
$2,874
Total Property Utility Expense
TOTAL FIXED OPERATIONAL EXP
VARIABLE OPERATIONAL EXPENSE
Total Payroll and Salary Expenses
Property Management Fee
Reserves & Replacements
TOTAL OPERATING EXPENSES
NET OPERATING INCOME
60%
$12,000
59%
$250 (4)
$207,022
$4,313
$146,785
$3,058
FINANCIAL ANALYSIS
PER
OPERATIONAL ANALYSIS
6
Comments to Income & Expenses- PROFORMA
Gross Potential Income: Increased by 2.0%.
(2) Total Economic Loss: Estimated to reflect current market conditions and historical operating
performance.
(3) Real Estate Expenses: Estimated to reflect an increase of assessed value at time of sale.
(4) Reserves & Replacements: Adjusted to reflect current agency underwriting standards and
vintage of property.
FINANCIAL ANALYSIS
(1)
7
City of Kansas City, Kansas
Page 1 of 2
Tax Statement
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Real Estate Tax Information
Parcel Information
Parcel Number:
256800
Property Address:
13126 KANSAS AVE
Billing Address:
PO BOX 410417
Legal Description:
B1 L1A
Appraisal Information
Appraisal Year:
2013
Appraised Value:
1,686,600
Assessed Value:
193,959
Real Estate Tax Information
Levy Rate:
162.80622
Original Tax:
$31,531.74
Special Assessment: $188.23
https://payments.wycokck.org/Treasurer/Parcel.aspx?Parcel=256800
1/3/2014
FINANCIAL ANALYSIS
Pay Personal Property
Pay Real Estate
Real Estate Search
Unified Appraiser
Unified Clerk
GeoSpatial Services
Unified Treasurer
WycoKCK
Year-Ending:
Year #:
CASH FLOW SUMMARY
$43,670
Total Property Utility Expense
$198,923
$12,240
$12,000
1.46
7.16%
1.49
7.30%
$100,742
$0
$100,742
1.52
7.45%
$100,742
$0
$100,742
$152,715
$215,386
$12,485
$202,901
$107,174
$16,565
$43,666
$0
$11,236
$23,242
$12,464
$95,728
$45,434
$14,257
$36,036
$368,102
($937)
($16,858)
($14,985)
($937)
$384,960
$10,336
$374,623
$374,623
2016
3
4.00%
0.25%
0.25%
1.55
7.60%
$100,742
$0
$100,742
$155,770
$219,694
$12,734
$206,959
$109,317
$16,896
$44,540
$0
$11,461
$23,707
$12,713
$97,642
$46,343
$14,542
$36,757
$375,464
($955)
($17,195)
($15,285)
($955)
$392,659
$10,543
$382,116
$382,116
2017
4
4.00%
0.25%
0.25%
1.58
7.75%
$100,742
$0
$100,742
$158,885
$224,088
$12,989
$211,099
$111,504
$17,234
$45,431
$0
$11,690
$24,181
$12,968
$99,595
$47,270
$14,833
$37,492
$382,973
($974)
($17,539)
($15,590)
($974)
$400,512
$10,754
$389,758
$389,758
2018
5
4.00%
0.25%
0.25%
1.61
7.91%
$100,742
$0
$100,742
$162,063
$228,570
$13,249
$215,321
$113,734
$17,578
$46,339
$0
$11,924
$24,665
$13,227
$101,587
$48,215
$15,130
$38,242
$390,632
($994)
($17,890)
($15,902)
($994)
$408,522
$10,969
$397,553
$397,553
2019
6
4.00%
0.25%
0.25%
1.64
8.06%
$100,742
$0
$100,742
$165,304
$233,141
$13,514
$219,627
$116,008
$17,930
$47,266
$0
$12,163
$25,158
$13,492
$103,619
$49,179
$15,433
$39,007
$398,445
($1,014)
($18,248)
($16,220)
($1,014)
$416,693
$11,188
$405,504
$405,504
2020
7
4.00%
0.25%
0.25%
1.67
8.22%
$100,742
$0
$100,742
$168,610
$237,804
$13,784
$224,020
$118,328
$18,289
$48,211
$0
$12,406
$25,661
$13,761
$105,691
$50,163
$15,741
$39,787
$406,414
($1,034)
($18,613)
($16,545)
($1,034)
$425,026
$11,412
$413,615
$413,615
2021
8
4.00%
0.25%
0.25%
$14,341
$247,411
$175,422
$100,742
$0
$100,742
1.74
8.56%
$242,560
$171,982
$100,742
$0
$100,742
1.71
8.39%
$233,070
$228,500
$14,060
$19,027
$123,109
$18,654
$120,695
$0
$50,159
$0
$49,176
$26,698
$12,907
$12,654
$14,317
$14,037
$26,174
$52,189
$109,961
$51,166
$107,805
$41,394
$422,833
$414,542
$16,377
($1,076)
($19,365)
($1,055)
($18,985)
$16,056
($17,213)
($1,076)
($16,875)
($1,055)
$40,583
$11,873
$442,198
$11,640
$430,325
$430,325
$421,887
$421,887
$433,527
2023
10
4.00%
0.25%
0.25%
2022
9
4.00%
0.25%
0.25%
The information in this marketing package has been obtained from sources that we believe are reliable, and is for informational purposes only. We make no representations or warranties, expressed or implied, as to
the accuracy of the information. The value of this transaction depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and all related parties should conduct a careful,
independent investigation on the property to determine your satisfaction and whether or not it will meet your specific needs and goals.
DEBT SERVICE COVERAGE RATIO
INDICATED CAPITALIZATION RATE
First Mortgage Debt Service
Issuer Fees
TOTAL 1ST MTG DEBT SERVICE
$100,742
$0
$100,742
$149,721
$146,785
PROPERTY NET OPERATING INCOME
1ST MTG DEBT SERVICE EXPENSES
$211,163
$207,022
TOTAL OPERATING EXPENSES
$250 / Unit
$195,022
Replacement & Reserve Deposits
TOTAL FIXED & VARIABLE EXPENSE
$16,240
$105,072
$103,012
$15,921
$0
$42,810
TOTAL VARIABLE OPERATIONAL EXP
Property Management Fee
Total Payroll and Salary Expenses
$11,016
$0
Total Administrative Expenses
$22,786
$12,220
$93,851
$44,543
$13,978
$35,330
$41,971
$10,800
Total Repairs & Maintenance
Total Leasing & Marketing
$11,980
$22,340
Total Maint. Contract Services
VARIABLE OPERATIONAL EXPENSE
$92,010
$13,704
Total Property Insurance Expense
TOTAL FIXED OPERATIONAL EXP
$34,637
Total Real Estate Property Taxes
FIXED OPERATIONAL EXPENSE
4.50%
$360,884
$353,808
OPERATIONAL EXPENSES
EFFECTIVE GROSS INCOME
($918)
($16,528)
($900)
($16,203)
0.25%
4.50%
Concessions
Total Operational Loss
($14,691)
($918)
($14,403)
($900)
4.00%
0.25%
Economic Operational Loss
Vacancy Loss
Bad Debt
$10,133
$377,411
$9,935
$370,011
$367,278
$367,278
$360,076
$360,076
2015
2
4.00%
0.25%
0.25%
GROSS POTENTIAL INCOME
Total Other Rental Income
All Units at Market Rent
POTENTIAL RENTAL INCOME
2014
1
Vac %:
Concess:
Bad Debt:
FINANCIAL ANALYSIS
INCOME
Proforma
2.00%
2.00%
Utilize YE, YTD or PROFORMA OPERATIONS
Assumed Annual Income Growth Rate %
Assumed Annual Expense Growth Rate %
PROPERTY CASH FLOW ANALYSIS - Bonner Highlands Apartments
Cash Flow Summary
8
9
Unit Mix
NUMBER OF UNIT SIZE
UNITS
(RSF)
ASKING
RENT
RENT PER
RSF
MAX
RENT
CURRENT
UA
MAX NET
RENT
$0.68
$832
$78
$754
1 BD 1 BTH- (60%)
4
750
$510
1 BD 1 BTH UNIT TOTAL
4
3,000
$2,040
750
$510
1 BD 1 BTH UNIT AVERAGE
2 BD 1 BTH- (60%)
24
840
$585
24
20,160
$14,040
840
$585
3 BD 2 BTH- (60%)
20
1,010
$670
20
20,200
$13,400
1,010
$670
43,360
$29,480
903
$614
TOTAL POTENTIAL
AVERAGE
48
$3,328
$3,016
$0.68
$832
$754
$0.70
$999
$95
$904
$23,976
$21,696
$0.70
$999
$904
$0.66
$1,153
$0.66
$0.68
$116
$1,037
$23,060
$20,740
$1,153
$1,037
$50,364
$45,452
$1,049
$947
1BD 1BTH- 60%
4 UNITS
3BD 2BTH- 60%
20 UNITS
2BD 1BTH- 60%
24 UNITS
FINANCIAL ANALYSIS
UNIT TYPE (SET-ASIDE)
10
Bonner Highlands Apartments is a Section 42 LIHTC property which means that federal tax credits were
given to help finance the property. There is an existing regulatory agreement in place which requires all
units to be rented to income qualifying residents earning no more than 60% of Area Medium Income (AMI)
limits, which are provided by Wyandotte County.
Wyandotte County Effective Year: 2014
Four Person Area Median Income: $69,900
INCOME LIMITS
60%
1 Person
2 Person
3 Person
4 Person
5 Person
6 Person
7 Person
8 Person
$31,080
$35,520
$39,960
$44,340
$47,940
$51,480
$55,020
$58,560
Tax Credit Maximum Allowable Rents
Set Aside
Unit Type
# of Units
Maximum
UA
Net Rent
1 Bedroom
4
$832
$78
$754
60% Rent
2 Bedroom
24
$999
$95
$904
3 Bedroom
20
$1,153
$116
$1,037
FINANCIAL ANALYSIS
Tax Credit Property Income and Rent Limits
11
Historical AMI and MAX Rent
$74,000
Year
AMI
% Change
$73,000
2009
$70,400
0.00%
2010
$70,500
0.14%
2011
$72,300
2.55%
2012
$73,300
1.38%
2013
$71,200
-2.86%
2014
$69,900
-1.83%
3 Yr Avg
-1.10%
5 Yr Avg
-0.12%
FINANCIAL ANALYSIS
AMI Growth Rate
$72,000
$71,000
$70,000
$69,000
$68,000
Max Allowable LIHTC Rent
Growth- 2BD/ 60%
$1,010
Year
AMI
% Change
$1,000
2009
$958
0.00%
2010
$960
0.21%
2011
$985
2.60%
2012
$999
1.42%
2013
$999
0.00%
$960
2014
$999
0.00%
$950
3 Yr Avg
0.47%
$940
5 Yr Avg
0.85%
$930
2009
1.00
2010
2.00
2011
3.00
2012
4.00
2013
5.00
2014
6.00
2013
5.00
2014
6.00
$990
$980
$970
2009
1.00
2010
2.00
2011
3.00
2012
4.00
* Data provided by Novoco.com
12
Property Description
Bonner Highlands Apartments is a 48-unit affordable housing community located in Bonner Springs, KS. The property was built and
placed into service in 1999 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. It is within close proximity to public
parks, shopping and dining venues. Bonner Highlands also provides
easy access to I-70.
Existing Section 42 LIHTC Apartment
Community
Current Rents are Below Max Net
Rents Allowable
Located in Attractive Neighborhood
Close to Schools, Employment and
Retail
Placed in Service in 1999
Bonner Highlands Apartment community offers one, two, and
three bedroom apartment homes featuring many amenities including an all electric kitchen with full appliance package and
plentiful storage. Bonner Highlands community is within walking
distance to Wal-Mart and several restaurants.
Historically Low Economic Loss
PROPERTY OVERVIEW
Highlights
There is an existing regulatory agreement in place which requires
all units to be rented to income qualifying residents earning no more
than 60% of Area Medium Income (AMI) limits, which are provided
by Wyandotte County. Please see the Tax Credit Property Income
and Rent Limits page in the Financial Analysis section for further
details. A qualified purchaser can be a non-profit or for-profit entity
that agrees to maintain the affordable housing units and to fulfill all
requirements of an existing regulatory agreement.
13
Area Highlights
The largest employers in Bonner Springs are the Unified
School District with 295 employees, CSM Bakery Products North America with 235 employees, and Super Wal-mart with 146 employees.
Kansas City is 20 miles East of Bonner Springs and is the largest city in Missouri and is the predominant city of a metropolitan area of more than two million people spanning the Missouri–Kansas border.
Kansas City provides an abundance of shopping, restaurants and entertainment, including professional
sports teams, the Kansas City Chiefs in football, the Kansas City Royals in baseball.
Kansas City is one of ten regional office cities for the United States Government. The U.S. Government is
the largest employer in the Kansas City metro area, with more than 146 federal agencies maintaining a
presence. The Internal Revenue Service maintains a large service center in Kansas City and is one of only
two facilities in the nation to process paper returns. The IRS has approximately 2,700 full-time employees in Kansas City and upwards of 4,000 employees during peak tax season with the addition of temporary employees. The General Services Administration has more than 800 employees in Kansas City,
with most located at the Bannister Federal Complex in South Kansas City. The Bannister Complex is also
home to the Kansas City Plant, which is a National Nuclear Security Administration facility operated by
Honeywell. Honeywell employs nearly 2,700 at the Kansas City Plant, which produces and assembles 85
percent of the non-nuclear components of the United States nuclear bomb arsenal. The Social Security
Administration has more than 1,700 employees in the Kansas City area, with more than 1,200 located at
its Mid-America Program Service Center in downtown Kansas City.
University of Missouri is also located in Kansas City, serving 15,000 students. Kansas City Art Institute, a
four-year college of fine arts and design and Kansas City University of Medicine and Biosciences are also
located in Kansas City.
PROPERTY OVERVIEW
Bonner Springs is a river city in Johnson, Leavenworth,
and Wyandotte counties in the State of Kansas. It is part
of the Kansas City, Missouri Metropolitan Area. The vast
majority of the city, which lies in Wyandotte County, is
part of the “Unified Government” which contains Kansas
City, Kansas, Bonner Springs, Edwardsville, and roughly a
quarter of Lake Quivira. As of 2012, the city population
was 7,314.
14
Apartment Market Highlights
VACANCY AND RENTS
• With rental demand matching construction, vacancy remained at 4.8% for the
•
•
EMPLOYMENT GROWTH
• The leisure and hospitality industry along with the professional and busi-
•
ness services sector led job growth in the prior six months for Kansas City
with 9,600 new jobs each. Employers added a net 15,800 jobs during that
time. The loss of 2,800 positions in the educational and health services
sector tamped down the overall job growth. Government, manufacturing,
and other services industries also shed a combined 2,500 workers during
the same time.
At 6.5% in September, unemployment was the same rate as June and up 10
basis points from last year. The metro remained below the 7.3% U.S. rate.
* Data provided by ApartmentUpdate.com
PROPERTY OVERVIEW
•
second consecutive quarter. The stable rate followed a 70-basis-point drop in
the first quarter of this year.
Average asking rent advanced 0.6% to $868 per month in the third quarter.
Rents increased 1.5% from one year prior.
Rental demand slowed with the net absorption of 220 units in the last three
months. The leasing activity was down from 1,230 units in the preceding three
months.
Construction finished on 320 units in the third quarter. Production was up
85.5% from the previous quarter. The last three months of construction were
the largest quarterly output in nearly three years.
15
Property Summary
NAME & LOCATION
Property Name
Property Address
Bonner Highlands Apartments
13132 Kansas Avenue
Bonner Springs, KS 66012
SITE INFORMATION
256800
48
7
2&3
43,360
1999
1999
2013
2.59 Acres
Fee Simple
18.53 Units / Acre
Mature Trees, Shrubs & Grass
Relatively Flat
UTILITIES
Water
Electric
Gas
Kansas City Board of Public Utilities
Kansas City Board of Public Utilities
Atmos Energy
CONSTRUCTION
Foundation
Framing
Exterior
Parking Surface
Roof
HVAC
Concrete Pad
2x6 Construction
Brick / Vinyl Siding
Asphalt
Composite Shingle
Central Heat and Air
PROPERTY OVERVIEW
Assessor’s Parcel Number
Number of Units
Number of Buildings
Number of Stories
Rentable Square Feet
Year Built
Placed in Service
Compliance Period Expiration
Lot Size
Type of Ownership
Density
Landscaping
Topography
16
Property Features
AMENITIES
Full Appliance Package
Extra Storage
Playground
PROPERTY OVERVIEW
Well Maintained Grounds
17
Property Photos
PROPERTY OVERVIEW
18
Property Photos
PROPERTY OVERVIEW
19
Property Photos
PROPERTY OVERVIEW
20
Property Photos
PROPERTY OVERVIEW
21
Aerial Neighborhood Map
PROPERTY OVERVIEW
22
Regional Map
BONNER
SPRINGS
LAWRENCE
PROPERTY OVERVIEW
KANSAS CITY
23
Local Map
YMCA
BONNER
HIGHLANDS
APARTMENTS
Wal-Mart
PROPERTY OVERVIEW
Delaware Ridge
Elementary School
24
Rent Comparables Map
1
2
5
3
Bonner Highlands Apts.
3 The Greens at Shawnee Apts.
1 Sandstone Apts.
4 Shawnee Station Apts.
2 Sun River Apts.
5 Cottonwood Park Apts.
RENT COMPARABLES
4
25
Occupancy & Average Rent per SF
OCCUPANCY
96% Average
100%
Bonner Highlands Apts.
99%
97%
1 Sandstone Apts.
96%
94%
2 Sun River Apts.
93%
91%
3 The Greens at Shawnee
Apts.
90%
88%
4 Shawnee Station Apts.
87%
85%
1
2
4
5
3
4
5
5 Cottonwood Park Apts.
RENT COMPARABLES
3
RENT PER SF
$1.00
$0.81 Average
$0.90
$0.80
$0.70
$0.60
$0.50
$0.40
$0.30
$0.20
$0.10
$0.00
1
2
26
13132 Kansas Avenue
Bonner Springs, KS 66012
# OF
UNITS
RENT
SF
RENT
PER SF
1BD 1BTH- 60%
4
$510
750
$0.68
2BD 1BTH- 60%
24
$585
840
$0.70
3BD 2BTH- 60%
20
$670
1,010
$0.66
TOTALS/AVG.
48
$614
903
$0.68
# OF
UNITS
RENT
SF
RENT
PER SF
1BD 1BTH
38
$480
640
$0.75
2BD 1BTH
38
$580
720
$0.81
TOTALS/AVG.
76
$530
680
$0.78
# OF
UNITS
RENT
SF
RENT
PER SF
1BD 1BTH
3
$550
700
$0.79
2BD 1BTH
35
$575
800
$0.72
3BD 2BTH
10
$710
900
$0.79
TOTALS/AVG.
48
$602
815
$0.74
UNIT TYPE
# OF UNITS:
Occupancy:
Year Built:
48
96%
1999
SANDSTONE APARTMENTS
1
501 South 4th Street
Edwardsville, KS 66111
UNIT TYPE
76
97%
1992
SUN RIVER APARTMENTS
2
701 South 4th Street
Edwardsville, KS 66111
UNIT TYPE
# OF UNITS:
Occupancy:
Year Built:
48
98%
2001
Comments: LIHTC Property.
RENT COMPARABLES
# OF UNITS:
Occupancy:
Year Built:
27
THE GREENS AT SHAWNEE APARTMENTS
3
6626 Hedge Lane Terrace
Shawnee, KS 66226
# OF
UNITS
RENT
SF
RENT
PER SF
1BD 1BTH
200
$695
667
$1.04
2BD 2BTH
220
$850
1,043
$0.81
TOTALS/AVG.
420
$776
864
$0.90
UNIT TYPE
# OF UNITS:
Occupancy:
Year Built:
420
95%
2000
SHAWNEE STATION APARTMENTS
4
6415 Maurer Road
Shawnee, KS 66217
RENT
SF
RENT
PER SF
1BD 1BTH
66
$653
736
$0.89
2BD 2BTH
120
$760
953
$0.80
3BD 2BTH
42
$965
1,126
$0.86
228
$767
922
$0.83
TOTALS/AVG.
# OF UNITS:
Occupancy:
Year Built:
228
97%
2003
Comments: LIHTC Property.
COTTONWOOD PARK APARTMENTS
5
6321 Cottonwood Drive
Shawnee, KS 66216
# OF
UNITS
RENT
SF
RENT
PER SF
1BD 1BTH
19
$610
680
$0.90
2BD 1BTH
63
$700
850
$0.82
3BD 2BTH
44
$925
1,168
$0.79
126
$765
935
$0.82
UNIT TYPE
TOTALS/AVG.
# OF UNITS:
Occupancy:
Year Built:
126
94%
2001
Comments: LIHTC Property with 60% Units.
RENT COMPARABLES
# OF
UNITS
UNIT TYPE
28
Demographic Report
POPULATION*
3 Miles
5 Miles
1,883
7,403
37,199
Population Change 1990-2012
501
595
11,406
Population Change 2000-2012
14
64
523
2012 Male Population
928
3,545
18,242
2012 Female Population
955
3,858
18,957
1 Mile
3 Miles
5 Miles
2012 Total Households
659
2,824
13,081
Household Change 1990-2012
178
215
3,903
Household Change 2000-2012
n/a
1
50
1 Mile
3 Miles
5 Miles
2012 Household Income: Median
$65,139
$55,881
$75,918
2012 Household Income: Average
$72,322
$65,266
$84,654
2012 Per Capita Income
$25,311
$25,039
$29,951
2012 Household income: Less than $10,000
55
178
378
2012 Household income: $10,000 to $14,999
12
171
441
14
193
403
n/a
70
426
n/a
100
331
43
135
403
52
149
515
40
138
470
24
138
546
59
238
1,005
89
307
1,537
106
444
2,326
110
335
2,106
44
129
1,184
n/a
66
685
11
33
325
2012 Total Population
HOUSEHOLDS*
INCOME*
2012 Household income: $200,000 or more
* Data provided by LoopNet.com
1 Mile
29
Demographic Analysis
HOUSING *
The median housing value in Bonner Springs was $141,986 in 2011, compared to the Kansas average of $128,300. In
2011, there were 1,815 owner occupied housing units in Bonner Springs and there were 778 renter occupied housing
units. The rental vacancy rate was roughly 6%, and there were 163 housing units vacant. Median Gross Rent in Bonner
Springs is $730.
EMPLOYMENT *
The median household income in 2011 was $56,114 and the per capita income was $23,064. The biggest employers in
the area are the Unified School District, CSM Bakery and Wal-Mart.
HOUSEHOLD INCOME LEVELS *
500
450
400
350
300
250
200
100
50
0
Series1
Under
$10,000
$10,000$20,000
$20,000$30,000
$30,000$40,000
$40,000$50,000
$50,000$60,000
$60,000$75,000
$75,000$100,000
$100,000$125,000
$125,000$150,000
181
319
215
225
229
193
217
469
179
60
OWNER & RENTER OCCUPIED HOUSING *
$150,000Over $200,000
$200,000
94
44
RENTAL OCCUPANCY RATES*
VACANT
(6%)
RENTER
30%
OWNER
70%
OCCUPIED
(94%)
* Data provided by City-Data.com
150
Contact Information
FOR MORE INFORMATION, PLEASE CONTACT:
LIHTC Advisors
12639 W. Explorer Drive, Suite 200
Boise, ID 83713
John Nicolas
800-840-3021 (office)
208-891-8901 (direct)
888-506-2771 (fax)
[email protected]
Jeff Irish
800-840-3021 (office)
208-286-5013 (direct)
888-506-2771 (fax)
[email protected]
www.lihtcadvisors.com
Steven M. Gasperi
President
Gasperi Group Commercial Real Estate, LLC
4901 West 136th Street
Leawood, KS 66224
913-563-6730 (office)
816-591-9764 (cell)

Bonner Highlands Bonner Springs KS

Transcription

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