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Affordable Housing Investment Brokerage Closes on 50-Unit Baker Manor Apartments in Macclenny, Florida for $2.5 Million


MACCLENNY, FL - Affordable Housing Investment Brokerage Inc. (AHIB) has recently sold Baker Manor Apartments in Macclenny, Florida for just over $2.5 million, with a reserve account released to the seller as additional consideration. Managing Director Kyle Shoemaker represented both the purchaser, The Grey Rock Group, and the seller to complete the transaction.
“Baker Manor is fully-covered by a project-based Section 8 contract that has allowed ownership to invest heavily in the property and make all necessary repairs and renovations as needed,” said Shoemaker.
Centrally located along South 6th Street, the 1974 construction, 50-unit, garden-style apartments consisting of 12 one-bedroom, 26 two-bedroom, and 12 three-bedroom units. Rents in the building range from $655 to $924 per month. Amenities include a playground, pool that underwent renovations in 2018, a laundry facility, community room, and on-site management office.  ....

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Affordable Housing Investment Brokerage Advises on Levy House Apartment Building Sale in Chicago's East Rogers Park Neighborhood


GLEN ELLYN, IL - Affordable Housing Investment Brokerage (AHIB) is pleased to announce that Levy House, located at 1221 W. Sherwin Ave. in Chicago’s East Rogers Park neighborhood, has sold for $8,100,000. The brokerage firm partnered on the listing with Kiser Group so that the seller had the benefit of AHIB’s expertise in affordable housing and Kiser Group’s mid-market multifamily expertise in Rogers Park. Kyle Shoemaker, Managing Director of AHIB represented the buyer, Preservation of Affordable Housing (POAH), and seller, a non-for-profit.
Levy House is a 57-unit, seven-story apartment building that offers one-bedroom, one-bathroom floor plans. The multifamily property previously operated as a elderly housing and Preservation of Affordable Housing plans to keep and expand the property’s rent affordability. ....

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