ADDRESS:
1315 W. Beverly Blvd
Montebello, CA 90640

COUNTY: Los Angeles

PROJECT DESCRIPTION:
Las Palmas and LOMCO purchased an existing 189 unit project-based Section 8 senior community in Montebello, California. The partners completed an extensive renovation of the complex in 2005. The renovation consisted of the following: new roof, elevators, interior unit renovation, common area decorating, interior design and a computer lab.

Beverly Tower Apartments is located only a few blocks away from the local library. Within 1.5 miles of the community is the Montebello Senior Services Center that provides recreation and social services to senior residents of Montebello.

PROPERTY MGMT: Living Opportunities Management Company

FINANCING:
Tax Credit Equity Partner: Paramount Financial Group
Construction & Permanent Lender: Washington Mutual Bank
HUD Subsidy: Project-Based Section 8 Contract

UNIT MIX:
133 studios (375 Sq. Ft.)
56 1-bedrooms (515 - 576 Sq. Ft.)

100% AFFORDABLE:
38 units – 50% AMI
151 units – 60% AMI

RESIDENT SERVICES: More Information

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