3804 Arlington Avenue, Los Angeles, CA 90008

$11,200,000 Approx. USD 0 beds, 0 baths
29,625 sqft

Agent Remarks

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.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# SR16130340
List price is $11,200,000
Beds: 0
Baths: 0
Built in 1993
29,625 sqft
3 Stories stories
0.62 acres
County: Los Angeles
Parking type: Assigned,Unassigned,Private (N),Parking Space,Underground,Parking for Guests - Onsite,Side by Side,Tandem
Interior features: Elevator,Turnkey
Exterior features: Brick,Stucco,Wood,Concrete,Steel
Appliances: Electric Dryer Hookup,Gas Dryer Hookup,Gas Or Electric Dryer Hookup
Parking description: Covered Parking,Driveway Gate
Lot description: Curbs,Landscaped,Street Lighting,Lawn,Sidewalks
MLS area: Out of Area (OA)

Last Updated: 7/2/2016

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This listing belongs to the Out of Area (OA) MLS area

Lat/Long: 34.017895, -118.317848.
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Broker: Courtesy of Keller Williams Realty
Listing Agent: Sagie Shemesh

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Total population of , which has changed by % since 1990.
The median age of the population is , while the median age of dwellings is .
Out of households, are families.

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