The Verandas Apartments
8160 Power Inn Rd
Sacramento, Sacramento County, California 95828

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Funding Programs

The Verandas Apartments 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 2000 for $402,986 with a 10 year value of $4,029,860. The property was placed in service in 2003. 179 of 180 units at The Verandas Apartments 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.

Overview

The Verandas Apartments 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).

The Verandas Apartments is an apartment community containing 180 rental units. This property serves seniors. The property contains 256 bedrooms and based on typical apartment occupancy limits, The Verandas Apartments is home to not more than 460 persons when fully occupied.

Rental Subsidies

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.

Unit Mix

The Verandas Apartments contains a mix of 180 assisted one and two bedroom apartments for rent. There are 104 One Bedroom and 76 Two Bedroom apartments in this property. The unit mix is 58% One Bedroom and 42% Two Bedroom apartment rentals. The average bedroom size for The Verandas Apartments is 1.42.

California's 6th

Congressional District

180

Total Units

179

Tax Credit Units

179

Senior Units

One and Two

Unit Mix

1.42

Average Bedroom Size

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