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Magnolia Walk II

2501 SW 10th St, Ocala, Florida 34471

Magnolia Walk Apartments is an affordable elderly community that offers 1 and 2-bedroom units. The units vary in size from 635 to 995 square feet, and are very bright and spacious. Each unit is equipped with a stove, refrigerator, dishwasher, garbage disposal, washer/dryer hookup and window treatment. A community laundry facility is located on each floor.

Contact Magnolia Walk II

Message Magnolia Walk II

Waiting List is Open Now

wait time is currently 2 years

Last updated on December 5th, 2018

Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 635 $418 $435
Two Bedroom (2/1) 995 From $494 To $513

Magnolia Walk II Details

  • 144 one and two bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Elevator
  • Fitness Center
  • Community Room
  • Library
  • Pool
  • Off-Street Parking
  • On-Site Management

Unit Amenities

  • Central Air
  • Dishwasher
  • Garbage Disposal
  • Washer/Dryer Hookup
  • Window Coverings
  • Carpet
  • Security System

Nearby Amenities

  • Close to Public Transportation
  • Near Hospital
  • Near Library
  • Near Schools

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.

Ocala 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 Ocala but actual income limits may differ for units at Magnolia Walk II.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $19,250 $22,000 $24,750 $27,500 $29,700 $31,900 $34,100 $36,300
Low Income (60%) $23,100 $26,400 $29,700 $33,000 $35,640 $38,280 $40,920 $43,560

Magnolia Walk II was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.

Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.

Magnolia Walk II is managed by JOTAR Management.

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