Rare opportunity for Investors familiarized with the Low Income Housing Tax Credit program (Created by Tax Reform Act of 1986 -TRA86) to own and manage Low Income Housing 29 Units building built in 1993 by original developer. All Units are under program. 6.24% CAP Rate is estimated and based on GIM and Annual Tax Credit. ALL INFORMATION HEREIN MUST BE INVESTIGATED BY BUYER* Integrated with Section 8 & Section 42 which have helped meet a critical affordable housing shortage by stimulating the production or rehabilitation of nearly 2.4 million affordable homes since 1986. The California Tax Credit Allocation Committee (CTCAC) administers the federal and state Low-Income Housing Tax Credit Programs. Both programs were created to encourage private investment in affordable rental housing for households meeting certain income requirements. The first step in the process is submitting an application to a state authority, which will consider the application competitively. The original project is required to meet the particular project's low income requirements for a 15-year initial "compliance period" and a subsequent 15-year "extended use period". Many developers agree to make 100% of the units low income in order to maximize the potential tax credits.
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KELLER WILLIAMS REALTY
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This Multi-Family home
for sale in Los Angeles, CA
is currently listed for $11,200,000.
Featuring a lot size of 27,154 Sq. Ft.,
3804 Arlington Avenue
was built in 1993 and
has been on ERA.com for 128 days.
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