River Garden Estates was developed and operates with Federal housing financing.
The property utilizes the Low Income Housing Tax Credit Federal housing program to make rent affordable to lower income tenants.
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 1997 for $747,395 with a 10 year value of $7,473,950.
The property was placed in service in 1998.
124 of 124
units at River Garden Estates are low income and subject to the tax credit program.
The property, at the time of the tax credit allocation,
was not located in a Qualified Census Tract or a Difficult Development Area and was not qualified for additional tax credit funding.
River Garden Estates is an affordable apartment community located in Sacramento, California
which is located in Sacramento County.
The property is located in California's 6th Congressional
District served by Representative Doris Matsui (D),
Senator Kamala Harris (D) and Senator Dianne Feinstein (D).
River Garden Estates is an apartment community containing 104 rental units.
This property serves all family types. The property contains 371 bedrooms and based on typical apartment occupancy limits, River Garden Estates
is home to not more than 742† persons when fully occupied.
This property does not provide any Federal rent subsidies to renters
reducing total tenant payments to 30% of their adjusted income. Renters are required to
pay the full rent, even if it is in excess of 30% of their income. In some cases the
property may accept Section 8 Housing Choice vouchers.
River Garden Estates contains a mix of 104 assisted
two, three, and four bedroom apartments for rent. There are 6 Two Bedroom, 33 Three Bedroom, and 65 Four Bedroom apartments in this property. The unit mix is 6% Two Bedroom, 32% Three Bedroom, and 63% Four Bedroom apartment rentals. The average bedroom size for River Garden Estates is 2.99.