Gerding Investment
849 Se 106th Ave
Portland, Multnomah County, Oregon 97216

Call (855) 598-3283, enter extension 33312, then hit #.

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Funding Programs

Gerding Investment 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 1996 for $52,557 with a 10 year value of $525,570. The property was placed in service in 1997. 23 of 51 units at Gerding Investment 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

Gerding Investment 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).

Gerding Investment is an apartment community containing 51 rental units. This property serves all family types and seniors. The property contains 75 bedrooms and based on typical apartment occupancy limits, Gerding Investment is home to not more than 136 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

Gerding Investment contains a mix of 51 assisted one and two bedroom apartments for rent. There are 27 One Bedroom and 24 Two Bedroom apartments in this property. The unit mix is 53% One Bedroom and 47% Two Bedroom apartment rentals. The average bedroom size for Gerding Investment is 1.47.

Oregon's 3rd

Congressional District

51

Total Units

23

Tax Credit Units

23

Senior Units

One and Two

Unit Mix

1.47

Average Bedroom Size

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