Cozy 1Bd/1Ba Redwood Terrace, 55 years + or Disabled Only

***Must meet CUP requirement of either age 55 or old, or disabled***

Welcome to Redwood Terrace Apartment #16, a cozy 1Bd/1Ba apartment located in the heart of San Diego, CA. This cozy 1 bedroom, 1 bathroom apartment offers on-site management, on-site laundry facilities, and a community BBQ area for residents to enjoy. Don't miss out on the opportunity to call Redwood Terrace home! The apartment is nestled in a 37-unit gated community in the desirable Banker's Hill neighborhood, ensuring your peace of mind. The building also features an elevator for easy access and on-site management for any immediate needs. This smoke-free apartment is pet-friendly, welcoming dogs upon approval, with street parking only. Experience the perfect blend of comfort, convenience, and style at Redwood Terrace.

Redwood Terrace –1 Bed / 1 Bath (Second Floor, Unit #16)
Must meet CUP requirement: 55+ or Disabled
225 Redwood St., San Diego, CA 92103

Community Features:
– Smoke-free property
– On-site laundry and management
– Community BBQ area
– Street parking (garage $40/month when available)
– Easy access to public transit, downtown, and shopping

Pet Policy:
– Dogs welcome (breed restrictions apply)
– 1 dog: $35/month | 2 dogs: $50/month
**Depending on credit, pet deposit for a single dog or cat is $150, deposit for 2 pets (dog/cat) $250**

Utilities:
– All utilities paid by tenant
– Water, trash, and sewage billed via RUBS (based on occupancy & unit size)
– Off-site storage options: www.stratprop.com

RENT & LEASE TERMS
- Application Fee: $45 per adult (18+)
- 12- month lease

Rental Requirements:
Each resident over the age of 18 must submit a separate rental application. Application Fee: $45
Income: Must meet 2.5x rent (Section 8/VASH applicants considered based on portion of rent).

QUALIFYING CRITERIA

-CUP-0542 Requirements: Age 55+ or Disability: 80% of our residents must be 55+ years old or disabled
-- Qualifying Disability per SDHC for CUP:
*Supplemental Security Income (SSI) benefits letter, or
*MediCal Recipient for Age, Disability, or Blindness, or
*In-Home Supportive Services Recipient Letter, or
*Letter of Disability from the Access to Independence for the Disabled or VA

To qualify, applicants must have a minimum 650 credit score, gross monthly income of at least 2.5x the rent, no recent evictions, no landlord debt in the past 7 years, no negative rental history, no negative utility accounts, and minimal collections. All applicants must be 18 or older. Applicants who do not meet all criteria may be considered with a strong guarantor.

Credit Requirements: ON APPROVED CREDIT
-Credit Score - Additional Items - Approval Terms
--Above 700 - No criminal, eviction, or collection items. - Deposit 50% of rent
--Between 699- 650 - No criminal, eviction, or collection items. - One month’s rent
--Below 650 - With any misdemeanor criminal or collection items. - One month’s rent with cosigner

APPLICANT INCOME AND FINANCIAL VERIFICATION STANDARDS
- Income Requirements
-- Applicants must demonstrate gross monthly income equal to at least two and one-half (2.5) times the monthly rent unless otherwise required by ownership, affordable housing regulations, or program guidelines.
-- All income must be legal, verifiable, and reasonably expected to continue.
-- Management reserves the right to request additional documentation, deny unverifiable income, and independently verify any information provided by the applicant.

- Employment Income Verification
-- Applicants receiving traditional employment income must provide a minimum of three (3) consecutive pay stubs covering at least six (6) weeks of income history.
-- Additional documentation may be requested when income appears inconsistent, seasonal, commission-based, bonus-based, newly established, or otherwise difficult to verify.
-- Acceptable supplemental documentation may include:
-- Employment verification letters
-- Offer letters containing compensation and start date information
-- Leave and Earnings Statements (LES)
-- W-2 forms
-- Direct deposit records
-- Employer contact verification
-- Self-Employment and Independent Contractor Income
-- Applicants who are self-employed or whose income is not supported by traditional pay stubs must provide:
--- Two (2) months of the most recent bank statements showing regular business or income deposits; and
--- The most recent federal tax return, W-2, 1099, Schedule C,
---Profit and Loss Statement, CPA-prepared income verification, or other documentation sufficient to verify ongoing income.
--- **Management may request additional documentation to establish the stability and continuity of self-employment income.

- Retirement, Pension, Government Assistance, and Benefit Income
-- Applicants receiving income from Social Security, SSI, SSDI, retirement accounts, pensions, veterans benefits, public assistance, disability benefits, or similar sources must provide current award letters, benefit statements, account statements, or other official documentation verifying the amount and continuation of income.

-- Child Support, Spousal Support, Trust Income, and Other Income Sources
-Applicants may voluntarily provide documentation of additional legal income sources, including but not limited to:
-- Child support
-- Spousal support
-- Trust distributions
-- Annuities
-- Investment income
-- Retirement distributions
-- Recurring financial assistance
-- Other verifiable legal income
-- Such income must be supported by official documentation and evidence of receipt, including current bank statements when applicable.

- Asset-Based Qualification
-- Applicants whose income does not independently satisfy income requirements may be considered based upon verifiable liquid assets.
-- Acceptable assets may include:
--- Checking accounts
--- Savings accounts
--- Money market accounts
--- Brokerage accounts
--- Retirement accounts
--- Trust accounts
--- Certificates of deposit
**Management reserves the right to determine whether available assets are sufficient to support rental obligations.

- Guarantor / Co-Signer Requirements
-- When permitted by property policy, guarantors or co-signers must:
--- Submit a completed rental application.
--- Meet all screening requirements.
--- Have a minimum credit score of 700.
--- Demonstrate gross monthly income equal to at least three (3) times the monthly rent.
--- Provide the same income documentation required of applicants.
--- Be able to legally enter into a binding contract.
--- Approval of a guarantor does not guarantee approval of an applicant.

- Unacceptable or Insufficient Documentation
-- The following documentation may be rejected and may not be used to verify income, assets, employment, or financial qualifications:
--- Screenshots that do not clearly display the applicant's name, account holder information, financial institution, statement dates, and transaction details.
--- Partial bank statements or statements with missing pages.
--- Cropped documents that omit identifying information.
--- Documents that appear altered, edited, manipulated, redacted, or otherwise modified.
--- Handwritten documents that cannot be independently verified.
--- Cash deposit records without supporting evidence of the source of funds.
--- Expired benefit statements, award letters, or employment verification documents.
--- Pay stubs that do not identify the employer, employee, pay period, or year-to-date earnings.
--- Offer letters lacking compensation information, start date, or employer contact information.
--- Verbal verification provided solely by the applicant.
--- Documents that are illegible, incomplete, inconsistent, or otherwise insufficient to verify qualifications.
--- All documentation must clearly identify the applicant, source of income, relevant dates, and sufficient information to allow independent verification.

- Fraudulent Documentation
-- Submission of altered, falsified, misleading, fraudulent, or intentionally incomplete documentation will result in immediate denial of the application.

Management reserves the right to report suspected fraud to applicable screening agencies, law enforcement authorities, property ownership, or other appropriate parties when permitted by law.

-Verification Authority
-- Management reserves the right to:
--- Independently verify all information provided by applicants and guarantors.
--- Request additional documentation at any stage of the screening process.
--- Contact employers, financial institutions, references, and third-party verification services.
--- Deny applications when income, employment, assets, identity, occupancy qualifications, or financial responsibility cannot be adequately verified.
--- Apply these standards consistently in accordance with applicable federal, state, and local fair housing laws.

Third party credit bureau reports may also be submitted for additional consideration.
- Background: All applicants subject to criminal background screening in accordance with Fair Housing laws
Occupancy: 1 bedroom- minimum 1 person- maximum 3 people.

Apply online at www.stratprop.com or contact Redwood@stratprop.com or text/call 619-363-3321.
Equal Housing Opportunity