Ellis 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 1999 for $243,538 with a 10 year value of $2,435,380.
The property was placed in service in 2001.
24 of 25
units at Ellis 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.
Ellis 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).
Ellis Street Apartments is an apartment community containing 25 rental units.
The property contains 25 studio bedrooms and based on typical apartment occupancy limits, Ellis Street Apartments
is home to not more than 25† 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.
Ellis Street Apartments contains a mix of 25 assisted
studio bedroom apartments for rent. There are 25 Studio apartments in this property. The unit mix is 100% Studio apartment rentals. The average bedroom size for Ellis Street Apartments is .