Frequently Asked Questions
Updated September 29, 2015
1. Does Cerritos have any existing affordable housing communities?
Yes. There are currently three existing for-sale senior housing communities in Cerritos (Emerald Villas, Pioneer Villas, and Fountain Walk) and one for-rent assisted living community (Vintage Cerritos). At most of these communities there are affordable units and market rate units.
2. What is an affordable unit?
An affordable unit is an income restricted unit designated for persons with very low-, low-, or moderate household income levels. The maximum household income applicable to each income level is periodically determined by the State of California. Below is a table of the 2010 State Income Limits for Los Angeles County for households containing 1, 2, or 3 persons, as applicable. In order to be eligible based on income, the total annual household income cannot exceed the following state income limits:
1 Person Household
2 Person Household
|Very Low Income||
3. Am I eligible to purchase affordable senior housing in Cerritos?
In order to be eligible to purchase a unit at any of the City’s senior affordable housing communities, the potential buyer must be at least age 62 years or older, a current United States citizen or permanent resident, and must meet minimum income requirements.
4. Do I have to be a Cerritos resident to be eligible to purchase a unit?
No, City of Cerritos residency is not required.
5. Is there a list of residents who are planning to sell an existing unit?
No. The City of Cerritos does not maintain a list of units for sale or potential units to be sold.
6. Can my unit be rented out?
No. All housing units must be owner-occupied, and renting out of a unit is prohibited.
7. Can a homeowner transfer ownership of an affordable unit to his/her children or other family members?
There is no general right to transfer an affordable unit to one’s children or other family members. A current owner may transfer ownership of his/her unit to a child or family member only if the new owner meets the age and income requirements necessary to be eligible. A transfer of ownership must always be approved by the City prior to the transfer.
8. If a homeowner passes away, what will happen to his/her senior housing unit?
If a current homeowner passes away and does not have a legal spouse residing in the unit, the unit will be subject to the following conditions: (i) the personal representative or trustee, as identified on the homeowner’s trust instrument or personal will, will be responsible for the re-selling of the unit, or (ii) if no one has been designated as the personal representative, the homeowner’s unit may go through probate court. The probate court will appoint a personal representative to administer the unit and coordinate its resale. Any such unit must be resold to a qualifying senior household and may not be occupied by individuals who do not meet the required qualifications.
9. If I own an existing home and I wish to purchase an affordable senior housing unit, can I own both properties?
No. Anyone wishing to purchase an affordable senior housing unit may not own any additional residential real property at the time of purchase. If a potential buyer owns an existing residence, he/she will be required to sell the current residence prior to the purchase of an affordable senior housing unit.
10. Is there a maximum resale price for the affordable units?
Yes. Each unit’s maximum resale price for the affordable units is determined according to state law and the covenants and restrictions recorded against the unit. The maximum resale price is provided to the seller by the Senior Housing Specialist upon notification of the intent to sell his/her affordable unit.
11. How is the maximum resale price determined?
The maximum resale price will be the lesser of (i) the purchase price originally paid for the unit by the seller, increased by the percentage increase in the Consumer Price Index (CPI) between the owner's acquisition of the unit and the date of the proposed resale, or (ii) the sales price as determined pursuant to California Health and Safety Code Section §50053(b) for an affordable unit of the applicable income restricted level, as such amount is determined by the Cerritos Redevelopment Agency.
If you have additional questions, please call the Cerritos Community Development Department, Advance Planning/Redevelopment Division at (562) 916-1201.