Century west multifamily income reit

Details: A 70-Unit Comfort Inn Suite Hotel in Tehachapi, California

​

Investment Highlights:

• Proposed 70-Unit Hotel

• Year Land Purchased:  Q2-2024

• Construction Start (est.):  Q4-2024

• Projected Open Date: Q1-2025

• Total Projected Budget: $10.0 Million USD

• Projected Return to Company: See Additional Information

Details: A shovel-ready RTI Development Site prepared for an all-affordable 99-unit Apartment Building. The land is 16,800 SQFT. It is a 6-story building with the 1st floor being the above-ground and street-level parking providing 50 parking stalls. The total construction will be about 50,000 SQFT. The total rentable area of the units will be 37,800 SQFT.

​

Investment Highlights:

• Year Land Purchased:  Q2-2024

• 79 Units HUD Low Income

• 19 Units HCD Moderate Income 

• 1 Manager Unit

• Projected Open Date: Q1-2026

• Projected Return to Company: See Additional Information

Details: A shovel-ready RTI Development Site prepared for a 30-Unit Apartment Building. The Property consists of two contiguous R3 lots totaling 13,769.98 square feet of land. On-grade parking and one (1) subterranean parking level are provided to allow for (50) vehicle spaces and (33) bicycle stalls. The plans also provide private balconies for every unit and a community rooftop area.

​

Investment Highlights:

• Year Land Purchased:  Q2-2024

• Land Acquisition Price: $4.5 Million USD

• Development Budget: $9.6 Million USD

• Total Project Costs: $24 Million USD

• Projected Open Date: Q1-2026

• Projected Return to Company: See Additional Information