Fifth Ave Courts
733 Sw 2nd Ave Ste 215
Portland, Multnomah County, Oregon 97204

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Funding Programs

Fifth Ave Courts 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 $166,497 with a 10 year value of $1,664,970. The property was placed in service in 1999. 48 of 96 units at Fifth Ave Courts 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 qualifying it for additional tax credit financing.

Overview

Fifth Ave Courts is an affordable apartment community located in Portland, Oregon which is located in Multnomah County. The property is located in Oregon's 3rd Congressional District served by Representative Earl Blumenauer (D), Senator Ron Wyden (D) and Senator Jeff Merkley (D).

Fifth Ave Courts is an apartment community containing 96 rental units. This property serves seniors and disabled persons. The property contains 84 bedrooms and based on typical apartment occupancy limits, Fifth Ave Courts is home to not more than 156 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

Fifth Ave Courts contains a mix of 96 assisted studio, one, and two bedroom apartments for rent. There are 21 Studio, 66 One Bedroom, and 9 Two Bedroom apartments in this property. The unit mix is 22% Studio, 69% One Bedroom, and 9% Two Bedroom apartment rentals. The average bedroom size for Fifth Ave Courts is 0.88.

Oregon's 3rd

Congressional District

96

Total Units

48

Tax Credit Units

48

Senior Units

Studio, One, and Two

Unit Mix

0.88

Average Bedroom Size

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