The Magnolia Phase I and II Apartments

3250 NE MLK Jr Blvd, Portland, OR 97212

Waiting List Forecast: Likely Short or None

check_circleVerified for 2023 by Ayat Elkarib, Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	Floorplan Info Upon Request	-	-

Call (503) 282-1005

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.

50 new affordable rental homes in the Eliot Neighborhood of Northeast Portland. This transit-oriented, mixed-income project is located on Martin Luther King Jr. Boulevard between Northeast Cook and Fargo Streets. It is also a mixed-use development, which means it includes commercial space on the ground floor along MLK. The apartments themselves are beautiful, bright, and designed for affordable living at its finest. Care and thought were invested in the unit floor plans and design to incorporate conveniences like adding a washer/dryer in (or directly adjacent to) the bathroom area, and attractive, easy to maintain granite counter-tops and plank flooring in all units. Many floor plans include a walk-in closet that joins the bathroom to the bedroom. Residents can enjoy several community spaces from the gorgeous community room with full kitchen, to the two rooftop deck areas complete with seating areas and landscaping.

Dave's Thoughts On The Magnolia Phase I and II 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 The Magnolia Phase I and II 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 20/50 election, this property has agreed to set aside at least 20% of its units for families and individuals earning 50% of Area Median Income (AMI). Many of these 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 very low incomes.

~ Dave Layfield, Founder of Affordable Housing Online

The Magnolia Phase I and II Apartments Amenities

Convenient Location

Income Qualification for The Magnolia Phase I and II 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	$39,500 / year	$45,150 / year	$50,800 / year	$56,400 / year	$60,950 / year	$65,450 / year	$69,950 / year	$74,450 / year
50% AMI for PBRA Units	$39,500 / year	$45,150 / year	$50,800 / year	$56,400 / year	$60,950 / year	$65,450 / year	$69,950 / year	$74,450 / year
60% AMI for LIHTC Units	$47,400 / year	$54,180 / year	$60,960 / year	$67,680 / year	$73,140 / year	$78,540 / year	$83,940 / year	$89,340 / year

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

FAQs for The Magnolia Phase I and II Apartments

Does The Magnolia Phase I and II Apartments have a waiting list?

The Magnolia Phase I and II 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 The Magnolia Phase I and II 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 The Magnolia Phase I and II Apartments ?

The Magnolia Phase I and II Apartments is managed by Income Property Management Co. headquartered in Portland, OR.

In addition to The Magnolia Phase I and II Apartments , how many other affordable housing properties (and units) are there in Portland?

In addition to The Magnolia Phase I and II Apartments , we list 696 other affordable properties in Portland. Learn about these properties here. Our data research shows that there are a total of 21786 affordable units in Portland.

When was the The Magnolia Phase I and II Apartments listing last updated?

The Magnolia Phase I and II Apartments listing on Affordable Housing Online was last updated on 01/02/2023 by Ayat Elkarib. Remember, a property's status can change so you should contact the property to confirm.