Preservation Equity Fund Advisors has acquired Quail Run Apartments, a 104-unit affordable housing community in San Leandro, Calif.
Originally developed in 1987 with Low-Income Housing Tax Credits (LIHTC), Quail Run provides affordable housing for families earning 50 percent to 80 percent of area median income. Located in the heart of the East Bay, the property offers convenient access to Interstate 580, Interstate 238 and California State Route 185, and is within two miles of the employment center of downtown San Leandro, which also offers local amenities such as grocery stores, parks and healthcare.
Quail Run is a low-density community consisting of 10 two-story residential buildings across four acres, with 104 one- and two-bedroom homes averaging 737 square feet. Community amenities include a business center, swimming pool and spa, bike racks, a car wash area and ample parking spaces. Apartment homes feature ceiling fans, private balconies or patios, exterior storag
