BMR New Sale - 1288 Howard

Posting date

** Updated 10/12/2022 – The application period started on 07/07/2022 at 8:00 AM PST and remains open as first come first served. **

 

Note: The applicant list generated from this first come, first served listing may be applied to any remaining BMR units in this project should one or more new units become available in the future.  Once all the BMR units are sold, the first come, first served applicant list will no longer be valid for this project.

 

Original DAHLIA Posting Date: 11/15/2021

Program

Inclusionary Housing Below Market Rate (BMR) Program

Type of unit

Condo

Name of building

1288 Howard

Address (including city/state/zip code)

1288 Howard St.

San Francisco, CA 94103

Unit Numbers

102, 106, 108, 118, 204, 416

Number of bedrooms

Three (3) studio units

One (1) one-bedroom units

Two (2) two-bedroom units

Number of bathrooms

One (1) bathroom for studio and one-bedroom units.

2 bathrooms for 2-bedroom units. (See Unit Matrix below for details)

Square footage

483 – 880 square feet

Year built

2021

Neighborhood Name

South of Market

Supervisorial District

6

Sales Price (for each BMR unit)

$339,333 - $463,635 without parking

$376,190 - $514,763 with parking

 

Unit Matrix:

Unit No.

Bedroom Count

Bath Count

Square Feet

Floor #

HOA Dues w/o Parking

HOA Dues w/Parking

Price w/o Parking          

Price w/Parking

108

0

1

483

1

$397.17

$461.17

$345,578

$382,434

118

0

1

513

1

$400.10

$464.10

$344,932

$381,789

416

0

1

544

4

$428.79

$492.79

$339,333

$376,190

102

1

1

609

1

$409.47

$473.47

$406,034

$450,027

106

2

2

880

1

$435.94

$499.94

$463,635

$514,763

204

2

2

880

2

$435.94

$499.94

$463,635

$514,763

 

Monthly Homeowner Association (HOA) Dues (for each BMR unit)

Please see the unit matrix for the specific HOA dues for each unit listed above. Range is:

$397.17 - $435.94 without parking

$461.17 - $499.94 with parking

 

 

What the HOA dues cover

Property Insurance, Sewer, Common area utilities, janitorial and landscape maintenance, Refuse disposal, Front door host (Mon-Sun, 8am-5pm), Security Guard (7-day, 7pm-5am), Property management

Covenants, Conditions & Restrictions (“CC&R’s”) for the building

To review the Covenants, Conditions & Restrictions for this building, please click here.

 

 

Smoking Policy

Smoking cigarettes, cigars or other tobacco smoke-producing products and smoking marijuana is prohibited within and in all areas outside the buildings located within fifty feet (50’) of building openings. Please refer to page 36 of the CC&R for more information

Pet Policy

Up to two (2) pet dogs or two (2) domestic pet cats, or one (1) pet dog and one (1) domestic pet cat. Please refer to page 30 of the CC&R for more information.  

Parking

No Parking Space

Parking spaces will be resold with the unit within the maximum resale price.

Area Median Income for Qualifying for Unit

100% of Area Median Income (AMI)

Maximum Allowable Income Levels

Maximum household income must not exceed the following amounts by household size:

 

100% of Maximum Income by Household Size derived from the Unadjusted Area Median Income (AMI) for HUD Metro Fair Market Rent Area (HMFA) that contains San Francisco 2022

 

Household Size

Maximum Income at 100% of AMI

1

$97,000

2

$110,850

3

$124,700

4

$138,550

5

$149,650

6

$160,700

7

$171,800

 

(Households must be at least as many people as bedrooms in the unit. Please visit www.sfmohcd.org for larger households.)

 

Note: Changes in AMI - MOHCD will use the income limit from the current year’s AMI chart to determine eligibility for an applicant.

 

Appliances

  • In-home air conditioning (except for ground floor units in alley building)
  • Paneled appliances; Frigidaire refrigerator, Frigidaire gas range, Frigidaire dishwasher, Frigidaire microwave, Mountain Plumbing garbage disposal
  • Washer/dryer hookups in each residence

Amenities

  • On-site garage parking
  • On-site retail
  • Secured bike storage
  • Secured storage
  • Fitness Center
  • Lounge / Business Center
  • Package Lockers
  • Wi-Fi in common areas
  • Keyless residence access
  • Three outdoor common spaces: Rooftop with fire pits, BBQ, and lounge area, Courtyard

       with fire pit and community steps, and landscaped alley

Date on which BMR unit(s) can be occupied by owner

6/1/2022

Other qualification notes

All potential buyers must review the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual that governs this property. Buyers will sign an acknowledgement that they have read and understood this document when purchasing a BMR unit.

 

All adult household members who will be on the title of the BMR unit must complete first-time homebuyer education through one of the City’s 5 approved first-time homebuyer counseling agencies and obtain a Verification of Homebuyer Education Completion form in order to apply. Please visit https://homeownershipsf.org/homebuyers for a schedule of upcoming program orientations and workshops. 

 

Applicants must obtain a loan pre-approval from one of the approved participating lenders listed at https://sfmohcd.org/lender-list to apply.

 

A copy of the First Mortgage Pre-Approval and Verification of Homebuyer Education must be included with the BMR Lottery Application.

 

Applicants with financial needs are encouraged to apply for down payment assistance.

 

 

  • Mortgage Credit Certificate (MCC): A certificate that allows first-time homebuyers to claim a tax credit for up to 15% of the annual mortgage interests paid. There is an application fee if applying for MCC.

 

  • Federal Home Loan Bank’s WISH program provides up to $22,000 in matching funds for down payment assistance.  Please ask your mortgage lender for more information.

 

All MOHCD Participating Lenders should explore these options with BMR buyers.

 

Households must be as many people (or more) as number of bedrooms in the unit to apply.

 

See other qualification rules in the City and County of San Francisco Inclusionary Affordable Housing Program Monitoring and Procedures Manual 2018.

Contact person (realtor/sales agent)

 

For questions about the building and units:

Josh Frizzell

Phone: (415) 800-3886

Email: josh@1288howard.com

 

For questions about applications and program requirements:

Homeownership SF

Phone: (415) 202-5464

Email: info@homeownershipsf.org

 

Company Name and Address (including city/state/zip code)

For questions about the building and units:

1288 Howard Owner LLC

1288 Howard Street,

San Francisco, CA 94103

 

For questions about applications and program requirements:

Homeownership SF

275 Fifth Street Suite 314

San Francisco, CA 94103

Office Hours (including any special message)

For questions about the building and units:

By Appointment Only, please contact the sales agent for assistance.

Phone

For questions about building and units:

1288 Howard Sales Team:

Phone: (415) 800-3886

 

For questions about applications and program requirements:

Homeownership SF

Phone: (415) 202-5464

Email

For questions about building and units:

info@1288howard.com

 

For questions about applications and program requirements:

info@homeownershipsf.org

Website

www.1288howard.com

Realtor commission

Are buyers’ realtors eligible for commission on these BMR units? No

How to obtain an application

Please contact HomeOwnershipSF or click here to download the application.

Applications – First Come, First Served

The application period started on 07/07/2022 at 8:00 AM PST and remains open as first come first served.

 

 

 

How to submit Application for First Come First Serve

Submit a complete electronic application with all required documents as a single PDF file via this secure link, 1288 Howard.  

 

Instructions:

  1. Create or log into your account with Box.
  2. Compile the application form and all required documents into one PDF file, and name the PDF file “1288 Howard– Last Name, First Name” (Example: 123 Sample Street Unit A – Smith, John). 

 

Changes to the application process due to COVID19. We are not accepting paper applications for now. If you need help to submit an application electronically, you can contact a housing counselor.  For a list of housing counselors, click here.

Lottery date, time and location

** The application period started on 07/07/2022 at 8:00 AM PST and remains open as first come first served. **

 

To view the lottery results, click here.

To view the Dahlia listing, click here.

Important Program Rules

All potential buyers must review the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual that governs this property. Buyers will sign an acknowledgement that they have read and understood this document when purchasing a BMR unit.

Resale Price Restrictions

When you sell a BMR unit, it will be resold at a restricted price that is affordable to the next qualified household. The household you sell to must meet the firsttime homebuyer, income and other qualifications for the program. Please review the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual for specific information. 

Special note(s)

 

1288 Howard’s location is conveniently connected to SOMA and Hayes Valley, the most vibrant and evolving parts of San Francisco. The project offers elevated, enduring and wellness-centric design with generous landscaped areas within and out of the building. The diverse nature of unit types is appealing to various lifestyle considerations.