421 Turk Street 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 2002 for $555,485 with a 10 year value of $5,554,850.
The property was placed in service in 2004.
28 of 29
units at 421 Turk Street Apartments 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.
421 Turk Street Apartments is an affordable apartment community located in San Francisco, California
which is located in San Francisco County.
The property is located in California's 12th Congressional
District served by Representative Nancy Pelosi (D),
Senator Kamala Harris (D) and Senator Dianne Feinstein (D).
421 Turk Street Apartments is an apartment community containing 29 rental units.
This property serves all family types. The property contains 64 bedrooms and based on typical apartment occupancy limits, 421 Turk Street Apartments
is home to not more than 123† 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.
421 Turk Street Apartments contains a mix of 29 assisted
one, two, and three bedroom apartments for rent. There are 9 One Bedroom, 5 Two Bedroom, and 15 Three Bedroom apartments in this property. The unit mix is 31% One Bedroom, 17% Two Bedroom, and 52% Three Bedroom apartment rentals. The average bedroom size for 421 Turk Street Apartments is 2.21.