Sunrise Vista Apartments
4415 S 28th St
Phoenix, Maricopa County, Arizona 85040

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Funding Programs

Sunrise Vista Apartments was developed and operates with Federal housing financing. The property utilizes 3 Federal housing programs to make rent affordable to lower income tenants. These programs are Low Income Housing Tax Credit, HOME, and Project Based Sec. 8.

Section 8

Sunrise Vista Apartments has a project-based Section 8 contract. 40 of the 196 total units at the property receive Section 8 assistance. This means that 20% of the renter households in the property pay no more than 30% of their adjusted income for rent.

The current Section 8 contract was effective on April 01, 2011 and the contract expires on March 31, 2031. The Section 8 contract rent is 127.5% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $735.00 for One Bedroom and $914.00 for Two Bedroom.

19% of Arizona properties and 26% of all properties across the country have Section 8 rental subsidies. See the Rent Subsidies section for more.

Low Income Housing Tax Credit

The property was developed using the Low Income Housing Tax Credit Program. This program incentivizes investors to inject capital into rental apartments for lower income Americans. The property received a tax credit allocation in 2001. The property was placed in service in 2002. 190 of 196 units at Sunrise Vista Apartments are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was located in a Qualified Census Tract qualifying it for additional tax credit financing.

HOME Investment Partnership

The property was financed in part with financing through the Federal HOME Investment Partnership Program. 190 of the 196 total units at Sunrise Vista Apartments are assisted under the HOME program.

Overview

Sunrise Vista Apartments is an affordable apartment community located in Phoenix, Arizona which is located in Maricopa County. The property is located in Arizona's 6th Congressional District served by Representative David Schweikert (R), Senator John McCain (R) and Senator Jeff Flake (R).

Sunrise Vista Apartments is an apartment community containing 82 rental units. The property contains 178 bedrooms and based on typical apartment occupancy limits, Sunrise Vista Apartments is home to not more than 357 persons when fully occupied.

Rent Subsidies

Sunrise Vista Apartments provides rental subsidies to renters. The type of subsidy provided to apartment renters in Phoenix, AZ by this property is Project Based Sec. 8.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is a minimum rent payment of not less than $25 and as much as $50 for all subsidy recipients at this property. That means that even if a renter has zero income, they will still be required to pay rent. In recent years, there have been various legislative proposals to increase the Section 8 minimum rent but advocates make the valid point that minimum rents affect the poorest of the poor.

Unit Mix

Sunrise Vista Apartments contains a mix of 82 assisted studio, one, two, and three bedroom apartments for rent. There are 6 Studio, 10 One Bedroom, 30 Two Bedroom, and 36 Three Bedroom apartments in this property. The unit mix is 7% Studio, 12% One Bedroom, 37% Two Bedroom, and 44% Three Bedroom apartment rentals. The average bedroom size for Sunrise Vista Apartments is 0.91.

Arizona's 6th

Congressional District

82

Total Units

190

Tax Credit Units

190

HOME Units

40

Project Based Sec. 8 Units

127.5

% of Fair Market Rent

31-Mar-31

Project Based Sec. 8 Contract Expiration

Studio, One, Two, and Three

Unit Mix

0.91

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data