Redwood Lofts & Flats is a 20-unit building that is nearing completion, with final certificate of occupancy (COO) expected by mid-March 2025. The property is located in an Opportunity Zone ("OZ"), which allows for an OZ deal to be structured prior to TCO. Redwood includes a mix of studio, one-, and two-bedroom floor plans. The first two levels includes 13 loft units and the top floor has 7 flats. The units have good quality finishes, including quartz counters, stainless appliances, soft-close cabinet doors, and vinyl plank flooring. The units have laundry machines, patios, and decks. Second floor units have city or mountain views. The building is fully sprinklered and has a secured bike room. In exchange for renting two units at 60% AMI rents, the building has secured a 10-year tax abatement. The abatement will begin the year following completion. During the abatement period, taxes are only payable on the land. Redwood is priced at $5,250,000 upon stabilization. At completion, it is available for $5,000,000, which is a 6.45% cap rate on stabilized NOI. Seller would strongly prefer to transact at completion, prior to stabilization Please contact Matt Dodd or Sean Milligan to schedule a tour.