Cherry Tree Village
139 West Minnesota Avenue
Turlock,
CA 95382
104 Units
Property Summary
| Price | Call for Details |
| Units | 104 |
Investment Highlights
- 2003 Construction
- 10-Year Hold Intact
- Located in 2024 DDA for 130% Basis Boost
- Located in a High Resource Area
- Attractive Well-Balanced Unit Mix with Townhome Style Floorplans
- Walkable Location to Neighborhood Conveniences and Higher Education
Property Description
The Mogharebi Group is pleased to present the opportunity to acquire Cherry Tree Village, a 104-unit affordable housing multifamily community located at 139 West Minnesota Avenue in Turlock, California. Constructed in 2003, Cherry Tree Village is comprised of a diversified and well-balanced mix of one-, two-, three-, and four-bedroom floorplans. As an affordable housing community, Cherry Tree Village is encumbered with a 55-year LIHTC regulatory agreement that expires in 2057. A new owner would be eligible for a real estate tax welfare exemption provided that a qualified 501(c)(3) nonprofit organization structure is in-place.
139 West Minnesota Avenue
Turlock, CA 95382
Turlock, CA 95382
The property’s convenient location off Minnesota Avenue, just west of Geer Road easily connects residents to a mix of daily grocery, shopping, dining, and conveniences, many within walking distance. Its location two miles from Highway 99 provides connectivity to the major job centers, retail destinations, and entertainment venues located throughout the Central Valley region.
Listing Advisors
Shawn Bolour
Based on this listing
