Gramercy Place
1540 S Gramercy Pl
Los Angeles, Los Angeles County, California 90019

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Funding Programs

Gramercy Place was developed and operates with Federal housing financing. The property utilizes the Project Based Sec. 8 Federal housing program to make rent affordable to lower income tenants.

Section 8

Gramercy Place has a project-based Section 8 contract. of the 13 total units at the property receive Section 8 assistance. This means that 0% 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 December 31, 1969 and the contract expires on December 31, 1969. The Section 8 contract rent is 0% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are for Zero Bedroom, for One Bedroom, for Two Bedroom, for Three Bedroom, and for Four Bedroom.

28% of California properties and 26% of all properties across the country have Section 8 rental subsidies. See the Rent Subsidies section for more.

Overview

Gramercy Place 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).

Gramercy Place is an apartment community containing 11 rental units. The property contains 17 bedrooms and based on typical apartment occupancy limits, Gramercy Place is home to not more than 31 persons when fully occupied.

Rent Subsidies

Gramercy Place provides rental subsidies to renters. The type of subsidy provided to apartment renters in Los Angeles, CA 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

Gramercy Place contains a mix of 11 assisted one and two bedroom apartments for rent. There are 5 One Bedroom and 6 Two Bedroom apartments in this property. The unit mix is 45% One Bedroom and 55% Two Bedroom apartment rentals. The average bedroom size for Gramercy Place is 1.31.

California's 34th

Congressional District

11

Total Units

11

Project Based Sec. 8 Units

One and Two

Unit Mix

1.31

Average Bedroom Size

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