601 W 40th Place, Los Angeles, CA 90037
Waiting List Forecast: Likely Short or None
Verified for 2021 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $900 - 1,800 per Month† | 1 - 5 Beds | 1 - 2 Baths | 629 - 1,700 Sq Ft |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Gilbert Lindsay is a 137-unit, tax credit community located in Los Angeles, CA.
Acquired by Thomas Safran & Associates in July 2017, the property will undergo extensive renovations to be completed early 2018. After the renovation, residents will enjoy access to a fully remodeled community room equipped with a full kitchen, spacious seating areas and computer workstations. Other upgrades include new laundry facilities, an exercise area, and renovated outdoor courtyards with lush landscaping. All units will feature upgraded bathrooms and new kitchens.
The property offers one, two, three, four and five bedroom units as well as on-site management and daily maintenance personnel. Resident services include monthly parties, classes, and more.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Gilbert Lindsay does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 629ft2 | $900† |
| Two Bedroom (2/1) | 741ft2 | $975† |
| Three Bedroom (3/2) | 987ft2 | $1,295† |
| Four Bedroom (4/2) | 1554ft2 | $1,500† |
| Five bedroom (5/2) | 1700ft2 | $1,800† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people | 9 people | 10 people |
|---|---|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $44,150 / year | $50,450 / year | $56,750 / year | $63,050 / year | $68,100 / year | $73,150 / year | $78,200 / year | $83,250 / year | ||
| 50% AMI for PBRA Units | $44,150 / year | $50,450 / year | $56,750 / year | $63,050 / year | $68,100 / year | $73,150 / year | $78,200 / year | $83,250 / year | ||
| 60% AMI for LIHTC Units | $52,980 / year | $60,540 / year | $68,100 / year | $75,660 / year | $81,720 / year | $87,780 / year | $93,840 / year | $99,900 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Gilbert Lindsay have a waiting list?
Gilbert Lindsay probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Gilbert Lindsay?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Gilbert Lindsay?
Gilbert Lindsay is managed by Thomas Safran & Associates headquartered in Los Angeles, CA.
In addition to Gilbert Lindsay, how many other affordable housing properties (and units) are there in Los Angeles?
In addition to Gilbert Lindsay, we list 1055 other affordable properties in Los Angeles. Learn about these properties here. Our data research shows that there are a total of 70531 affordable units in Los Angeles.
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