Current Listings: City Second Program

MAYOR'S OFFICE OF HOUSING AND COMMUNITY DEVELOPMENT 
AVAILABLE UNITS UNDER CITY SECOND LOAN PROGRAM
Updated August 10, 2017

The following properties are currently available for sale through the City Second Loan Program (CSLP). The CSLP properties are market rate units in which the City holds a right of first refusal. A right of first refusal is a contractual right granted by the seller giving an opportunity to the City to elect a qualified buyer to purchase the property through CSLP. If the property is in contract, an “Offer Price” will be shown. If the property is not yet in contract, the Offer Price field will be marked “TBD”. Note that the right of first refusal gives the City a specified amount of time to find a qualified buyer who can match the offer price to replace the existing offer and purchase the property. If that time expires, the seller can complete a sale with the buyer of their choosing. Buyers who believe they are income qualified are encouraged to attend the listed open house, and apply for a CSLP loan.

Buyers who would like to get pre-approved for a CSLP loan before making an offer to the seller, shall submit a PDF iconCity Second Loan Program Application- Pre Approval to MOHCD. Pre-approval applications are accepted and reviewed based on the order received. MOHCD reserves the right to limit pre-approval applications in its sole discretion. Note that a CSLP pre-approval does not constitute the seller’s acceptance to the buyer’s offer, nor guarantee the buyer’s final CSLP loan approval.

Buyers who are interested in making an offer (with or without the City’s pre-approval for CSLP), shall work with their real estate agents to present an offer to the seller. If the offer is accepted by the seller, the buyer shall immediately submit a copy of fully executed purchase agreement to MOHCD and work with their lender on submittal of the Lender’s CSLP loan packet to MOHCD.

Since the City Second properties are for sale on the open market, MOHCD is not in a position to determine the sales price and seller’s buyers. If the seller enters into a purchase agreement with a non-CSLP participant during the specified right of first refusal time period, MOHCD will use a qualified buyer to substitute. If the seller enters into a purchase agreement with a CSLP participant during the specified right of first refusal time period, MOHCD will permit the buyer to purchase the property by a) waiving its right of first refusal from the seller, and b) requiring the new buyer to grant the City a new right of first refusal at close of escrow.

CSLP applications for all Eligible buyers are accepted on a first-come, first-served basis and are always subject to funding availability. Please click here to see the program funding balance. For more detailed information about CSLP, please click here, or see the PDF iconCity Second Flyer. Please contact John.Lucero@sfgov.org with questions.

 

Posting Date

August 10, 2017

Type of Unit

City Second Loan Program

Market Rate Program with no Resale Restrictions

Development Name

Amancio Ergina

Address

1862C Ellis Street, Unit 48, San Francisco, CA 94115

# Bedroom

 

2

# Bathroom

 

1

Square footage

 

816

Maximum Income Level of Applicants

120% of Area Median Income

1 Person -$96,850

2 Person-$110,700

3 Person-$124,500

4 Person-$138,350

5 Person-$149,400

6 Person-$160,500

Asking Price

$695,000

 

Offer Price

(City Second borrower must be able to match the offer price)

TBD

Maximum City Second Downpayment Assistance Loan Amount

Up to  $375,000 available for City Second Properties on First Come First Serve Basis

 

Minimum Downpayment Required Based on Offer Price

TBD

Parking

 

1

Monthly Homeowner Dues

$499.29

Contact Person:

Nick Johnson

Phone:

 

415.264.4789

Email:

Nick.johnson415@gmail.com

MSL Link:

MLS#:   View Listings

Open House: 

Sat, 8/12, & Sun, 8/13, 2-4 pm

Special Remark:

 

City Second Loan is available for qualified buyers on a first come, first serve basis and based on program funding availability. For more information please visit our website:  http://sfmohcd.org/city-second-loan-program

 

Posting Date

7/18/2017 (5 Pre-Approval Applications Received)

Type of Unit

City Second Loan Program

Market Rate Program with no Resale Restrictions

Development Name

McAllister Mews

Address

 

1235 McAllister Street, Unit 222, San Francisco, CA 94115

# Bedroom

 

1

# Bathroom

 

1

Square footage

 

666

Maximum Income Level of Applicants

120% of Area Median Income

1 Person -$96,850

2 Person-$110,700

3 Person-$124,500

4 Person-$138,350

5 Person-$149,400

6 Person-$160,500

Asking Price

$549,000

 

Offer Price

(City Second borrower must be able to match the offer price)

TBD

Maximum City Second Downpayment Assistance Loan Amount

Up to $375,000 available for City Second Units only, please contact MOHCD

 

Minimum Downpayment Required Based on Offer Price

TBD

Parking

 

No

Monthly Homeowner Dues

$341

Contact Person:

John Beatty & Associates, Inc.

Phone:

925-277-8178

Email:

N/A

MSL Link:

MLS#:   View Listings

Open House: 

Brokers Tour: 7/25 11-12:30pm Sunday Open House: 7/23 2-4pm

Special Remark:

City Second Loan is available for qualified buyers on a first come, first serve basis. For more information please visit our website:  http://sfmohcd.org/city-second-loan-program

 

 

Posting Date

6/20/2017 (Sale subject to 45 day Right of First Refusal)

Type of Unit

City Second Loan Program

 

Market Rate Program with no Resale Restrictions

Development Name

Garnett Terrace

Address

5 Garnett Terrace, San Francisco, CA  94124

# Bedroom

3

# Bathroom

2

Square footage

unknown

Maximum Income Level of Applicants

120% of Area Median Income

1 Person -$96,850

2 Person-$110,700

3 Person-$124,500

4 Person-$138,350

5 Person-$149,400

6 Person-$160,500

Asking Price

$799,000

Offer Price

(City Second borrower must be able to match the offer price)

TBD

Maximum City Second Downpayment Assistance Loan Amount

Up to $375,000 available for City Second Units only, please contact MOHCD

Minimum Downpayment Required Based on Offer Price

TBD

Parking

Attached Garage (1 car)

Monthly Homeowner Dues

$136

Contact Person:

Romunda Craft / Dorothy Moore

Phone:

415-342-5203 / 415-794-0887

Email:

info@craftmoore.com

MSL Link:

MLS#457793 (Agent's Listing and Visual Tour)

Open House: 

Sunday 6/25/17, 7/9/17, 7/16/17 and 7/30/17 from 2:00 - 4:00pm or by appointment

Special Remark:

City Second Loan is available for qualified buyers on a first come, first serve basis. For more information please visit our website:  http://sfmohcd.org/city-second-loan-program

 

 

 

Posting Date

5/18/17 (Sale subject to 45 day Right of First Refusal)

Type of Unit

City Second Loan Program

Market Rate Program with no Resale Restrictions

Development Name

Garnett Terrace

Address

 

88 Garnett Terrace, San Francisco, CA 94124

# Bedroom

 

3

# Bathroom

 

2

Square footage

 

1559

Maximum Income Level of Applicants

120% of Area Median Income

1 Person -$96,850

2 Person-$110,700

3 Person-$124,500

4 Person-$138,350

5 Person-$149,400

6 Person-$160,400

Asking Price

$799,000

Offer Price

(City Second borrower must be able to match the offer price)

TBD

Maximum City Second Downpayment Assistance Loan Amount

Up to $375,000 available for City Second Units only, please contact MOHCD

Minimum Downpayment Required Based on Offer Price

TBD

Parking

 

Attached Garage, 1 Off Street

Monthly Homeowner Dues

$137

Contact Person (Only contact agent about this property):

Felicia Taylor

Phone:

510-812-1664

Email:

emails2felicia@gmail.com

MSL Link:

MLS#: 458063

Open House: 

May 21st 2-4pm

Special Remark:

 

City Second Loan is available for qualified buyers on a first come, first serve basis. For more information please visit our website:  http://sf-moh.org/index.aspx?page=747