Figueroa Senior Housing
5503 S Figueroa St
Los Angeles, Los Angeles County, California 90037

Call (855) 598-3283, enter extension 56537, then hit #.

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Funding Programs

Figueroa Senior Housing 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 1995 for $458,941 with a 10 year value of $4,589,410. The property was placed in service in 1997. 66 of 66 units at Figueroa Senior Housing 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 and a Difficult Development Area qualifying it for additional tax credit financing.

Overview

Figueroa Senior Housing 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).

Figueroa Senior Housing is an apartment community containing 66 rental units. The property contains 66 studio bedrooms and based on typical apartment occupancy limits, Figueroa Senior Housing is home to not more than 66 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

Figueroa Senior Housing contains a mix of 66 assisted studio bedroom apartments for rent. There are 66 Studio apartments in this property. The unit mix is 100% Studio apartment rentals. The average bedroom size for Figueroa Senior Housing is .

California's 34th

Congressional District

66

Total Units

66

Tax Credit Units

Studio

Unit Mix

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