St Andrews Arms
1511 S St Andrews Pl
Los Angeles, Los Angeles County, California 90019

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Funding Programs

St Andrews Arms was developed and operates with Federal housing financing. The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants. These programs are Low Income Housing Tax Credit and Project Based Sec. 8.

Section 8

St Andrews Arms has a project-based Section 8 contract. 27 of the 44 total units at the property receive Section 8 assistance. This means that 61% 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 01, 2012 and the contract expires on November 30, 2032. The Section 8 contract rent is 93.6% 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.

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 2007 for $529,152 with a 10 year value of $5,291,520. The property was placed in service in 2008. 44 of 44 units at St Andrews Arms 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

St Andrews Arms 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).

St Andrews Arms is an apartment community containing 28 rental units. The property contains 49 bedrooms and based on typical apartment occupancy limits, St Andrews Arms is home to not more than 96 persons when fully occupied.

Rent Subsidies

St Andrews Arms 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

St Andrews Arms contains a mix of 28 assisted studio, one, and two bedroom apartments for rent. There are 1 Studio, 5 One Bedroom, and 22 Two Bedroom apartments in this property. The unit mix is 4% Studio, 18% One Bedroom, and 79% Two Bedroom apartment rentals. The average bedroom size for St Andrews Arms is 1.11.

California's 34th

Congressional District

28

Total Units

44

Tax Credit Units

27

Project Based Sec. 8 Units

93.6

% of Fair Market Rent

30-Nov-32

Project Based Sec. 8 Contract Expiration

Studio, One, and Two

Unit Mix

1.14

Average Bedroom Size

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