Senior Asset Manager – Affordable Housing

Senior Asset Manager Affordable Housing

Location: Greater Sacramento Area (Gold River CA)

Work Arrangement: On-site with regular travel

Compensation: $130000 $150000 Base Salary 15% Target Performance Bonus (KPI-based)

Benefits: Comprehensive Medical & Dental Coverage 401(k) with Company Match Paid Time Off

Travel: Approximately 25%30% (regional driving and occasional multi-state flights)

The Opportunity

A well-established privately held real estate owner and developer with nearly 30 years of stability is expanding its corporate leadership team. Managing an established 100% affordable housing portfolio across multiple states the firm specializes in long-term preservation acquiring rehabilitating and operating Section 42 LIHTC HUD Project-Based Section 8 and USDA Rural Development communities.

This is a rare opportunity to step into an ownership-level role offering direct daily visibility to executive leadership and principals. Rather than functioning as a remote corporate cog you will partner directly with operational leadership to shape asset performance participate in portfolio-wide optimization and help streamline operational workflows. Clear pathways for upward progression to an executive/VP capacity exist as the platform expands.

Role Overview

As Senior Asset Manager you will assume financial operational and regulatory oversight of a dedicated portfolio of approximately 17 to 20 multi-family affordable housing communities. Serving as the strategic bridge between executive ownership and third-party property management partners your mission is to protect asset value drive Net Operating Income (NOI) evaluate capital re-investment and maintain compliance across complex multi-layered funding structures.

Key Responsibilities

• Strategic Financial Performance: Conduct rigorous monthly balance sheet P&L rent roll and variance analyses across your assigned portfolio. Identify opportunities to optimize NOI analyze utility allowances and annual rent increases and evaluate long-term capital structures (including loan refis re-syndications and hold/sell modeling).
  

• Third-Party Management Oversight: Hold outside property management companies accountable to rigorous operational physical and financial targets. Conduct regular audits review operating budgets approve non-routine expenses and establish operational alignment.
  

• Regulatory Compliance Oversight: Ensure strict adherence to IRS Section 42 Low-Income Housing Tax Credit (LIHTC) guidelines HUD APPS/Section 8 regulations USDA-RD covenants and bond regulatory agreements. Supervise compliance audits state agency reporting and tenant file reviews during ongoing operations and post-acquisition lease-ups.
  

• Capital Improvements & Renovations: Partner on physical asset planning evaluating major capital reserves monitoring CapEx draws and tracking scopes of work for substantial rehabilitations (roofing MEP systems green energy/solar retrofits and accessibility updates).
  

• Site Inspections & Travel: Conduct routine on-site asset reviews to verify property conditions curb appeal deferred maintenance resolution life-safety standards and third-party on-site staffing effectiveness.
  

• Partner & Agency Relations: Manage communications and filings with lenders Limited Partners syndicators non-profit general partners (MGPs) and local housing authorities.
  

Candidate Profile

• Demonstrated Asset Management or Regional Leadership: 4 years of direct experience in commercial real estate asset management multi-family portfolio operations or regional property management within the affordable housing sector.
  

• Affordable Housing Acumen: Deep working knowledge of LIHTC (Section 42) HUD Project-Based Section 8/HAP contracts or USDA Rural Development programs is strongly preferred.
  

• Strong Financial Acumen: Ability to analyze property financial statements understand debt structures interpret rent rolls against maximum allowable limits and build financial pro formas. Advanced proficiency with Microsoft Excel is required.
  

• Tech-Savvy Operations: Familiarity navigating property management accounting architectures (e.g. Yardi Voyager RealPage) and federal reporting platforms (HUD APPS).
  

• Education & Credentials: A Bachelors degree in Real Estate Finance Business Administration Accounting or a related field is preferred (equivalent practical industry track record valued).
  

• Presence & Agility: Strong communication skills suited for executive-level collaboration entrepreneurial problem-solving and managing high-trust relationships with external agency partners.