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- LoopNet Team
936 S Clark St
Grand Island, NE 68801
French Village Apartments · Multifamily Property For Sale
·
50 Units
INVESTMENT HIGHLIGHTS
- Mixed-income property with a project-based Section 8 HAP contract in place covering 78% of units
- Ability to increase rents on the 11 market-rate units by $125/mo
- Ability to reduce +$85,000 from the annual expense stack
PROPERTY FACTS
| No. Units | 50 | Lot Size | 4.50 AC |
| Property Type | Multifamily | Building Size | 66,542 SF |
| Property Subtype | Apartment | Average Occupancy | 96% |
| Apartment Style | Garden | No. Stories | 2 |
| Building Class | C | Year Built | 1969 |
| Zoning | Z04 | ||
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.50 AC |
| Building Size | 66,542 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1969 |
| Zoning | Z04 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
- Heating
- Refrigerator
- Range
SITE AMENITIES
- Playground
- Property Manager on Site
- Basketball Court
ABOUT 936 S CLARK ST , GRAND ISLAND, NE 68801
French Village Apartments is a 50-unit mixed-income apartment community in Grand Island, NE. Built in 1969, the property features 2- and 3-bedrooms townhome units in nine two-story garden-style buildings. The property maintains a project-based Section 8 HAP contract covering 39 units. The 20-year HAP contract expires in 2033. While French Village is not currently involved with the Section 42 LIHTC program, it is eligible for immediate syndication. The property is located within an opportunity zone. Hall County’s area median income was $61,700 in 2019 and has grown 1.6% annually since 1999. Located adjacent to the Platte River and Interstate I-80 in central Nebraska, Grand Island is located 95 miles west of Lincoln and 150 miles west of Omaha. The Grand Island MSA has a population of 85,000. The town is home to the annual Nebraska State Fair.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 40 | - | 1,000 |
| 3+1 | 10 | - | 1,200 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,631,454 | |
| Land Assessment | $346,210 | Total Assessment | $2,977,664 |
PROPERTY TAXES
