- The Pacific Pointe and Granite Ridge properties consist of two Section 42 LIHTC apartment buildings totaling 160 units. The properties were constructed in 1971 and 1973, both renovated in 2000. There is a LIHTC LURA in place restricting 100% of the units to 60% of the area median income. The end of the initial tax credit compliance period was 2014, with extended use restrictions in place until 2029, after which timeownership can increase rents to market levels. The properties consistently enjoy near 100% occupancy and are within 3 miles of each other.
- Given its central location relative to both San Francisco and Sacramento, close proximity to the state freeway system and relatively inexpensive land costs, several companies base their regional operations in Stockton.
- The property is 29% occupied by tenants utilizing section 8 vouchers.
- 80 units total. LIHTC.
246 E Iris Ave, Stockton, CA 95210