El Corazon Apartments
7006 Alabama Avenue
Los Angeles, Los Angeles County, California 91303

Call (855) 598-3283, enter extension 12470, then hit #.

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Funding Programs

El Corazon Apartments was developed and operates with Federal housing financing. The property utilizes the Low Income Housing Tax Credit Federal housing program to make rent affordable to lower income tenants.

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 1998 for $74,960 with a 10 year value of $749,600. The property was placed in service in 1999. 11 of 12 units at El Corazon 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 Difficult Development Area qualifying it for additional tax credit financing.

Overview

El Corazon Apartments is an affordable apartment community located in Los Angeles, California which is located in Los Angeles County. The property is located in California's 34th Congressional District served by Representative Xavier Becerra (D), Senator Kamala Harris (D) and Senator Dianne Feinstein (D).

El Corazon Apartments is an apartment community containing 12 rental units. The property contains 43 bedrooms and based on typical apartment occupancy limits, El Corazon Apartments is home to not more than 86 persons when fully occupied.

Rental Subsidies

This property does not provide any Federal rent subsidies to renters reducing total tenant payments to 30% of their adjusted income. Renters are required to pay the full rent, even if it is in excess of 30% of their income. In some cases the property may accept Section 8 Housing Choice vouchers.

Unit Mix

El Corazon Apartments contains a mix of 12 assisted two, three, and four bedroom apartments for rent. There are 1 Two Bedroom, 3 Three Bedroom, and 8 Four Bedroom apartments in this property. The unit mix is 8% Two Bedroom, 25% Three Bedroom, and 67% Four Bedroom apartment rentals. The average bedroom size for El Corazon Apartments is 3.58.

California's 34th

Congressional District

12

Total Units

11

Tax Credit Units

Two, Three, and Four

Unit Mix

3.58

Average Bedroom Size

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