1445 10th St., Santa Monica, CA 90401
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 Bed | 1 Bath | 458 Sq Ft |
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.
Magnolia Villas is a 40-unit apartment for low income seniors that are 62 and older. The community has four stories of 39 one-bedroom units and 1 two-bedroom unit (manager).
The surrounding areas offer useful health amenities and transportation options for residents. Both Kaiser Permanente and UCLA Medical Center are in the vicinity as well as several pharmacy locations. The development is located close to several bus stops with access to multiple bus lines. Many leisure options are available within a mile such as the Santa Monica Pier, Santa Monica State Beach and Third Street Promenade for access to movie theatres, restaurants, cafes and shopping. Magnolia Villas offers affordable housing to qualified applicants meeting low income and other program requirements.
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 Magnolia Villas 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
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 458ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 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 |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Magnolia Villas have a waiting list?
Magnolia Villas 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 Magnolia Villas?
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 Magnolia Villas?
Magnolia Villas is managed by EAH
In addition to Magnolia Villas, how many other affordable housing properties (and units) are there in Santa Monica?
In addition to Magnolia Villas, we list 43 other affordable properties in Santa Monica. Learn about these properties here. Our data research shows that there are a total of 1968 affordable units in Santa Monica.
When was the Magnolia Villas listing last updated?
Magnolia Villas listing on Affordable Housing Online was last updated on 07/05/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
1834-1848 14th St., Santa Monica, California 90404
1637 Appian Way , Santa Monica, California 90401
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