BridgeWater Real Estate Brokerage is pleased to exclusively present Selborne House of Laurel, a 126-unit senior affordable apartment community with exceptional potential for either a Low-Income Housing Tax Credit (LIHTC) acquisition-rehabilitation or market-rate repositioning.
Located in a Qualified Census Tract (QCT) in transit-oriented downtown Laurel, Maryland, this stabilized asset meets all key criteria for a 4% LIHTC redevelopment—beyond its initial compliance period, held for over 10 years, and fully controlled by the seller with no remaining limited partner. As part of the high-income Washington D.C. MSA (2025 AMI: $163,900), the property benefits from robust LIHTC rent ceilings, with substantial room for revenue growth post-renovation. Public and mission-driven private gap financing may be available to support a competitive capital stack.
At the same time, Selborne House presents a compelling market-rate value-add opportunity. Rent restrictions on 107 of the 126 units are scheduled to expire on January 1, 2028, unlocking the ability to reposition the vast majority of the asset. The remaining 17 units are encumbered by a HOME loan through 2037 which may be enough to maintain exemption from Prince George’s County’s rent stabilization ordinance. Current effective rents average well below local comps and LIHTC maximums, providing immediate operational upside and long-term rent growth.
With walkable access to parks, retail, dining, and just 0.3 miles from the MARC station, Selborne House is an ideal candidate for buyers pursuing preservation, repositioning, or both.
To access more information and schedule a tour, contact Adam Stein at BridgeWater Real Estate Brokerage at 202-603-5587 and astein@bwreb.com today.