Golden Age Gardens Apartments

740 S 36th St, San Diego, California 92113

Golden Age Garden Apartments is a senior multifamily rental development located in San Diego, Calif. The property was purchased from the original owners who built it in 1982. The development consists of 76 one-bedroom units in a four-story building.

The project was in decent condition, but after 25 years, it was in need of an infusion of capital so that it could be renovated and preserved as affordable housing for the long term. The property is still restricted to seniors, and all 76 units are covered under a HAP contract.

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Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) - Income Based

Golden Age Gardens Apartments Details

  • 76 one bedroom units.
  • Section 8 Project-Based Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

San Diego HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in San Diego but actual income limits may differ for units at Golden Age Gardens Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $25,450 $29,100 $32,750 $36,350 $39,300 $42,200 $45,100 $48,000
50% $42,450 $48,500 $54,550 $60,600 $65,450 $70,300 $75,150 $80,000
80% $67,900 $77,600 $87,300 $97,000 $104,800 $112,550 $120,300 $128,050

San Diego Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in San Diego but actual income limits may differ for units at Golden Age Gardens Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $42,450 $48,500 $54,550 $60,600 $65,450 $70,300 $75,150 $80,000
Low Income (60%) $50,940 $58,200 $65,460 $72,720 $78,540 $84,360 $90,180 $96,000
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