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Oak Park Apartments

51 Oak Park Dr, Four Oaks, North Carolina 27524

This apartment community was built in 1983 and has 2 stories with 30 units.

Oak Park Apartments is located in Four Oaks, North Carolina in the 27524 zip code. This apartment community was built in 1983 and has 2 stories with 30 units.

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2 Bedroom Waiting List is Open Now

The Oak Park Apartments waiting list is currently open until further notice.

Last updated on November 25th, 2019

Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 644 Income Based
Two Bedroom (2/1.5) 850 Income Based
Three Bedroom (3/2) 1064 Income Based

Oak Park Apartments Details

  • 30 one, two and three bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • Section 515 Rural Rental Housing

Property Amenities

  • Playground
  • On-Site Manager
  • Picnic Area

Unit Amenities

  • Washer/Dryer Hookup
  • Refrigerator
  • Oven and Range

Office Hours

Day Hours
Monday 8:00am-5:00am
Tuesday 8:00am-5:00pm
Wednesday 8:00am-5:00pm
Thursday 8:00am-1:00pm

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.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Four Oaks 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 Four Oaks but actual income limits may differ for units at Oak Park Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $32,950 $37,650 $42,350 $47,050 $50,850 $54,600 $58,350 $62,150
Low Income (60%) $39,540 $45,180 $50,820 $56,460 $61,020 $65,520 $70,020 $74,580

Oak Park Apartments 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.

Oak Park Apartments is managed by The Pendergraph Companies, LLC.

Image of Oak Park Apartments
Image of Oak Park Apartments