Katherine and Irwin 

Single Room Occupancy (SRO) Community 

Formerly a two building pharmacy and medical clinic, Katherine and Irwin will be a renovated to be a Single Room Occupancy (SRO) with 20 150-195 sqft. rooms replete with split heat pump units, solar, a common kitchen and dining, two common living areas, shared bathrooms and a large outdoor community courtyard. 

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Re-development opportunity into high-demand apartment rooms with substantial upside or buy/hold high ROI. 

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Full occupancy by December 2022

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Affordable homes needed to meet demand in Kings County. 

4,088

Increase in state funding for purchase of housing assets under project Homekey

71%

Number of housing vouchers unused in 2021 - Demand for SRO from Kings Gospel Mission, Champions, Kings County Human Services, Veterans Services. 

85

Details

Investment Information

Project Dev. Cost

Projected Sales Price

Projected ROI

Sales $/Door

$109k

117%

$1.14mil. 

$2.2mil

Key Features

Property Details 

Lease Rate

Unit SF

Total SF

Total Rooms

20

6352

$725-825

150-195

Expected Occupancy

100%

Amenities 

  • Located at the northern end of the downtown corridor, walking distance to services, shopping and restaurants. 

  • Hanford is a high growth area and in demand of affordable housing. 

  • Innovative re-development with efficient building methods.

  • Professional resident services contract. 

  • Jobs are created to build and operate property. 

  • Private Rooms

  • Shared Bathrooms

  • Two Community Courtyards

  • One ADA Unit

  • Multiple Indoor Community Spaces

  • Common Kitchen

  • Common Dining

  • On-Site Management 

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