Folsom/dore 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 $785,744 with a 10 year value of $7,857,440.
The property was placed in service in 2005.
96 of 98
units at Folsom/dore 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.
Folsom/dore 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).
Folsom/dore Apartments is an apartment community containing 98 rental units.
The property contains 73 bedrooms and based on typical apartment occupancy limits, Folsom/dore Apartments
is home to not more than 150† 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.
Folsom/dore Apartments contains a mix of 98 assisted
studio, one, and two bedroom apartments for rent. There are 33 Studio, 57 One Bedroom, and 8 Two Bedroom apartments in this property. The unit mix is 34% Studio, 58% One Bedroom, and 8% Two Bedroom apartment rentals. The average bedroom size for Folsom/dore Apartments is 0.74.