Capstone Apartment Partners is pleased to present Settlers Ridge, a fully affordable 64-unit garden-style multi-family asset located in Urbana, OH. Settlers Ridge operates in conformance as a Low-Income Housing Tax Credit (LIHTC) project, limiting all units to 42% AMI caps. Participation in this affordable program ensures investors are acquiring a high-quality asset that meets the strenuous criteria required to be eligible for tax credits. Although rent restrictions are in place, rents currently trail the Max Allowable AMI Caps by 33%+. This presents new ownership the opportunity to raise rents and substantially increase EGI. Additionally, the asset is located firmly within a growth market supported by a strong manufacturing presence. There is tremendous operational upside for Settlers Ridge through re-syndication of the tax credits, as the property is nearing the end of its extended use period (expires 2026).

• Subject Nearing End of Extended Use
• Opportunity to Raise Rents to Max Allowable AMI Caps
• Robust Economic Drivers