Sheridan South Villa
7219 San Pedro St
Los Angeles, Los Angeles County, California 90003

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Funding Programs

Sheridan South Villa 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

Sheridan South Villa has a project-based Section 8 contract. 38 of the 38 total units at the property receive Section 8 assistance. This means that 100% 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 83.8% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $1,154.00 for One Bedroom and $1,490.00 for Two 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

Sheridan South Villa 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).

Sheridan South Villa is an apartment community containing 38 rental units. The property contains 57 bedrooms and based on typical apartment occupancy limits, Sheridan South Villa is home to not more than 104 persons when fully occupied.

Rent Subsidies

Sheridan South Villa 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

Sheridan South Villa contains a mix of 38 assisted one and two bedroom apartments for rent. There are 19 One Bedroom and 19 Two Bedroom apartments in this property. The unit mix is 50% One Bedroom and 50% Two Bedroom apartment rentals. The average bedroom size for Sheridan South Villa is 1.5.

California's 34th

Congressional District

38

Total Units

38

Project Based Sec. 8 Units

83.8

% of Fair Market Rent

30-Jun-33

Project Based Sec. 8 Contract Expiration

One and Two

Unit Mix

1.5

Average Bedroom Size

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