Documents
Key Facts
| Year Built | 2006 |
| Building Area |
|
| Occupancy | 95.0 % |
Property Description
Lansbourough is an ultra-low density community with above-market unit sizes. It has a diversified unit mix with 80% LIHTC and 20% market-rate units. Current rents are below maximum achievable rent levels in the program, yielding a substantial rental income boost immediately attainable under new ownership.
Investment Highlights
Lansbourough is a 176-unit, garden-style community with a convenient, close-in location to Central Houston. It was developed in 2006 utilizing Low-Income Housing Tax Credit (LIHTC) equity under Section 42 of the Internal Revenue code. The community offers stable cash flow with low turnover and immediate income upside. It is available below replacement cost and on an all cash basis.
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The value of trust beneficiary rights fluctuates due to fluctuations in the price of real estate, and there is a risk of falling beyond the investment principal. Real estate prices are fluctuated by changes in the population of the area in which they are located and the number of newly supplied properties, fluctuations in interest rates and exchange rates, changes of tax system, loss/damage due to natural disasters such as earthquakes, deterioration over time, and the discovery of hidden defects such as soil pollution.
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