715-721 Yale Street, Los Angeles, CA 90012
Waiting List Forecast: Likely Short or None
Verified for 2018 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio - 3 Beds | 1 Bath | - |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Lotus Garden provides sixty (60) dwelling units consisting of (15) studio, (15) 1-bedroom, (10) 2- bedroom and (20) 3-bedroom apartments. The project provides outdoor recreation area, a community room, onsite laundry and onsite parking for 63 vehicles. Located on the Bus Rapid Transit line and within walking distance of light rail, this transit oriented development furthers the goals of the city of Los Angeles in reducing vehicle ownership through pedestrian oriented development. Yale Street provides much needed affordable housing to individuals and families earning 30-60% of Los Angeles county median income.
The development fronts on North Yale Street. At the ground level is the community room, a computer lab and the management office. The location of the management office provides excellent eyes on the community enhancing security. The community rooms offer approximately 2,200 square feet. A service delivery office may be incorporated into the building programming where social services can be administered to the TAY residents. There is approximately 4,000 square feet of outdoor open space located on the roof deck of the building for the enjoyment of all the buildings residents. Gardening plots and bbqs, as well as a tot lot and passive recreation affords residents a community gathering area that encourages a healthy lifestyle. With building frontage on two streets and sidewalk improvements fronting on Yale Street, this pedestrian friendly development creates 60 units of affordable housing for area families within walking distance of vital family services.
Because Lotus Garden participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | - | Rent is Based On Your Income† |
| 1 Bedroom (1/1) | - | Rent is Based On Your Income† |
| 2 Bedroom (2/1) | - | Rent is Based On Your Income† |
| 3 Bedroom (3/1) | - | Rent is Based On Your Income† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $44,150 / year | $50,450 / year | $56,750 / year | $63,050 / year | $68,100 / year | $73,150 / year |
| 50% AMI for PBRA Units | $44,150 / year | $50,450 / year | $56,750 / year | $63,050 / year | $68,100 / year | $73,150 / year |
| 60% AMI for LIHTC Units | $52,980 / year | $60,540 / year | $68,100 / year | $75,660 / year | $81,720 / year | $87,780 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Lotus Garden have a waiting list?
Lotus Garden probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Lotus Garden?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Lotus Garden?
Lotus Garden is managed by Solari Enterprises Inc. headquartered in Orange, California.
In addition to Lotus Garden, how many other affordable housing properties (and units) are there in Los Angeles?
In addition to Lotus Garden, we list 1055 other affordable properties in Los Angeles. Learn about these properties here. Our data research shows that there are a total of 70531 affordable units in Los Angeles.
3035-3045 Sierra Street , Los Angeles, California 90031
2010 Chariton Street, Los Angeles, California 90034
2250 Parkside Ave, Los Angeles, California 90031
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