Commerce STreet Manor &
Perdue Village

Greenville, al

112 Units

104,832 Total Sq Ft

Built 2000 & 2001

The Opportunity

Commerce Street Manor Apartments is a 56-unit affordable housing community located in Greenville, AL. The property offers one and two bedroom apartment homes that feature kitchens with a dishwasher and garbage disposal, ceiling fans, air conditioning, a patio/balcony, and washer/dryer connections. The community offers residents a business center, clubhouse, on-site laundry facility, a bbq and picnic area, and on-site leasing office. ​

The property was built in 2001 and placed in service in 2002 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 50% & 60% of Area Median Income (AMI) limits, which are provided by the Alabama Housing Finance Authority. The property is beyond it’s initial tax credit compliance period.

Perdue Village Apartments is a 56-unit affordable housing community located in Greenville, AL. The property offers two and three bedroom apartment homes that feature kitchens with a dishwasher and garbage disposal, ceiling fans, air conditioning, a patio/balcony, additional storage, and washer/dryer connections. The community offers residents a business center, clubhouse, library, on-site laundry facility, a bbq and picnic area, playground, basketball court and on-site leasing office. ​

The property was built and placed in service in 2000 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 50% & 60% of Area Median Income (AMI) limits, which are provided by the Alabama Housing Finance Authority. The property is beyond it’s initial tax credit compliance period.

HIGHLIGHTS

  • LIHTC Properties Located Near Area Amenities, Schools, and Shopping
  • Properties can be Purchased Together or Separately
  • Greenville is Home to Lurleen B. Wallace Community College & Lomax-Hannon Junior College
  • Excellent AMI Growth in Butler County with a 15.94% Increase Since 2016
  • Asking Rents are Below Max Net Rents, Leaving Room for Future Rental Increases
  • Both Properties are Out of their Respective Initial Tax Credit Compliance Periods
  • Attractive 1% Interest Rate Debt Assumption Opportunity

Commerce STreet Manor

Perdue Village

Contact Us

Email Us

BOISE OFFICE

9225 N Meeker Pl.
Suite 210
Meridian, ID 83713

ALABAMA OFFICE

2120 16th Avenue South
Suite 300
Birmingham, AL 35205

BErkadia Team

Investment Advisors

Brandon Grisham

Senior Managing Director
253.653.3313
brandon.grisham@berkadia.com

Mike Terry

Investment Sales Associate
425.761.1640
mike.terry@berkadia.com

David Wilson

Senior Director
205.403.5541
david.wilson@berkadia.com

Commerce Street Manor &
Perdue Village

Greenville, AL

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