The Panama Apartments

403 E 5th St, Los Angeles, CA 90013

Waiting List Forecast: Likely Short or None

check_circleVerified for 2023 by Lorena Bentley, Colleen Carter

Rent	Beds	Baths	SqFt
Call for Rents^†	Studio Bed	1 Bath	-

Call (213) 572-0561 Email

Waitlist Forecast

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.

The Panama Apartments is a permanent supportive housing development. All units have individual bathrooms & kitchens and come fully furnished. Property amenities include a community kitchen & lounge space, computer lab, security office, property manager and case management offices, laundry room and elevator.

Dave's Thoughts On The Panama Apartments

Because The Panama Apartments 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

The Panama Apartments Amenities

Elevator
Computer Lab
On-Site Manager
Resident Service Coordinator
Laundry Facility
On-Site Laundry
On-Site Security
Community Kitchen

Units at The Panama Apartments

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	-	Rent is Based On Your Income^†

Income Qualification for The Panama Apartments

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
30% AMI for PBRA Units	$26,500 / year	$30,300 / year	$34,100 / year	$37,850 / year	$40,900 / year	$43,950 / year	$46,950 / year	$50,560 / year
50% AMI for LIHTC Units	$44,150 / year	$50,450 / year	$56,750 / year	$63,050 / year	$68,100 / year	$73,150 / year	$78,200 / year	$83,250 / year
50% AMI for PBRA Units	$44,150 / year	$50,450 / year	$56,750 / year	$63,050 / year	$68,100 / year	$73,150 / year	$78,200 / year	$83,250 / year
60% AMI for LIHTC Units	$52,980 / year	$60,540 / year	$68,100 / year	$75,660 / year	$81,720 / year	$87,780 / year	$93,840 / year	$99,900 / year
80% AMI for PBRA Units	$70,650 / year	$80,750 / year	$90,850 / year	$100,900 / year	$109,000 / year	$117,050 / year	$125,150 / year	$133,200 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for The Panama Apartments

Does The Panama Apartments have a waiting list?

The Panama Apartments 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 The Panama Apartments?

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 The Panama Apartments?

The Panama Apartments is managed by SRO Housing Corporation headquartered in Los Angeles, California.

In addition to The Panama Apartments, how many other affordable housing properties (and units) are there in Los Angeles?

In addition to The Panama Apartments, we list 1089 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.

When was the The Panama Apartments listing last updated?

The Panama Apartments listing on Affordable Housing Online was last updated on 08/16/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.