Cypress Springs Apartments

7850 Cypress Ave, Riverside, CA 92503

Waiting List Forecast: Likely Short or None

check_circleVerified for 2018 by Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	2 - 4 Beds	1 - 2.5 Baths	-

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.

Construction of Cypress Springs Apartments was completed at the end of 2007. The property consists of 101 units of large family apartments affordable to very low- and low-income tenants. The majority of the units are 2 and 3 bedroom apartments, with a limited number of 4 bedroom units. The property is professionally managed by the John Stewart Company.

Cypress Springs Apartments offer a variety of amenities, including childcare services on-site! The property is also home to the Blindness Support Training Center, operated by Blindness Support Services, Inc. In addition, Cypress Springs Apartments offers a computer learning center, a large community room, spacious play areas and barbeque and picnic areas.

This property, like all of our rental properties, is an Equal Housing Opportunity rental subject to the Fair Housing Act of 1968, which prohibits any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin, or an intention to make any such preference, limitation, or discrimination.

Dave's Thoughts On Cypress Springs Apartments

This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Cypress Springs Apartments does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.

~ Dave Layfield, Founder of Affordable Housing Online

Cypress Springs Apartments Amenities

BBQ and Picnic Area
Computer Lab
Community Room

Units at Cypress Springs Apartments

Unit (Bd/Ba)	Ft²	Rent
Two Bedroom (2/1)	-	Rent is Based On Your Income^†
Three Bedroom (3/2)	-	Rent is Based On Your Income^†
Four Bedroom (4/2.5)	-	Rent is Based On Your Income^†

Income Qualification for Cypress Springs 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
50% AMI for LIHTC Units	$32,650 / year	$37,300 / year	$41,950 / year	$46,600 / year	$50,350 / year	$54,100 / year	$57,800 / year	$61,550 / year
50% AMI for PBRA Units	$32,650 / year	$37,300 / year	$41,950 / year	$46,600 / year	$50,350 / year	$54,100 / year	$57,800 / year	$61,550 / year
60% AMI for LIHTC Units	$39,180 / year	$44,760 / year	$50,340 / year	$55,920 / year	$60,420 / year	$64,920 / year	$69,360 / year	$73,860 / year

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

FAQs for Cypress Springs Apartments

Does Cypress Springs Apartments have a waiting list?

Cypress Springs 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 Cypress Springs 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 Cypress Springs Apartments?

Cypress Springs Apartments is managed by The John Stewart Company headquartered in San Francisco, California.

In addition to Cypress Springs Apartments, how many other affordable housing properties (and units) are there in Riverside?

In addition to Cypress Springs Apartments, we list 45 other affordable properties in Riverside. Learn about these properties here. Our data research shows that there are a total of 2651 affordable units in Riverside.