Happy Valley Apartments
3035-3045 Sierra Street
Los Angeles, Los Angeles County, California 90031

Call (855) 598-3283, enter extension 62374, then hit #.

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Unit Information

Unit Bed/Bath Rent
Three Bedroom 3/1 From $1,292

Property Amenities

  • Playground
  • Community Room
  • Assigned Parking
  • Gated Community
  • Laundry Facilities

Unit Amenities

  • Garbage Disposal
  • Utilities Included
  • Window Coverings
  • Carpet
  • Refrigerator
  • Wall-to-Wall Closet

Nearby Amenities

  • Close to Public Transportation
  • Near Schools

Managed By Alpha Property Management

Funding Programs

Happy Valley Apartments 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

Happy Valley Apartments has a project-based Section 8 contract. 12 of the 20 total units at the property receive Section 8 assistance. This means that 60% 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 July 01, 2013 and the contract expires on June 30, 2033. The Section 8 contract rent is 79.7% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $1,490.00 for Two Bedroom and $2,009.00 for Three 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

Happy Valley 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).

Happy Valley Apartments is an apartment community containing 12 rental units. The property contains 34 bedrooms and based on typical apartment occupancy limits, Happy Valley Apartments is home to not more than 68 persons when fully occupied.

Rent Subsidies

Happy Valley Apartments 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

Happy Valley Apartments contains a mix of 12 assisted two and three bedroom apartments for rent. There are 2 Two Bedroom and 10 Three Bedroom apartments in this property. The unit mix is 17% Two Bedroom and 83% Three Bedroom apartment rentals. The average bedroom size for Happy Valley Apartments is 1.7.

California's 34th

Congressional District

12

Total Units

12

Project Based Sec. 8 Units

79.7

% of Fair Market Rent

30-Jun-33

Project Based Sec. 8 Contract Expiration

Two and Three

Unit Mix

1.7

Average Bedroom Size

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