2804 Waverly Way | Norfolk, VA 23504
82 Units
850 Avg Sq Ft
Built 1970
The Opportunity
Villa Terrace Apartments is an 82-unit affordable housing community located in Norfolk, VA. The property is nestled between popular parks and the Lafayette River and located minutes away from shopping, dining, healthcare facilities, and entertainment options.
The property was built in 1970 and rehabbed and placed in service in 2002 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 50% of Area Median Income (AMI) limits, which are provided by the Virginia Housing Development Authority. The property is beyond the initial tax credit compliance period.
Community Amenities
- On-Site Laundry Facility
- On-Site Management
- Located Near Public Transit
- 24- Hour Emergency Maintenance
- Well- Manicured Grounds & Landscape
Unit Amenities
- Spacious Two Bedroom Apartments
- Energy Efficient Appliances
Contact Us
Email Us
BOISE OFFICE
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BErkadia Team
Investment Advisors
Trevor Madden
Director
406.459.9221
trevor.madden@berkadia.com
Johnathan Smith
Senior Managing Director- Affordable Housing
206.856.1707
johnathan.smith@berkadia.com
Carter Wood
Director
804.780.9247
carter.wood@berkadia.com
Drew White
Senior Managing Director- Investment Sales
240.396.1090
drew.white@berkadia.com
2804 Waverly Way | Norfolk, VA 23504
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Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. This website is not intended to solicit commercial mortgage loan brokerage business in Nevada.
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