Posting Date

** Updated 10/11/2022 – Application period began on 10/03/2022 at 8:00 AM PST and remains open as first come first served. **

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: 02/22/2022

Initial First Come First Served Posting Date: 09/26/2022

Program

Inclusionary Housing Below Market Rate (BMR) Program

Type of unit

Condo

Name of building

Rubi

Address (including city/state/zip code)

832 Sutter Street

San Francisco, CA 94109

Unit Numbers

203 & 304

Number of bedrooms

Each unit has one (1) bedroom

Number of bathrooms

Each unit has one (1) bathroom

Square footage

Unit 203: 594 sq. ft.

Unit 304: 794 sq. ft.

Year built

2015

Neighborhood Name

Nob Hill

Supervisorial District

3

Sales Price (for each BMR unit)

Unit 203: $360,346 without parking

Unit 304: $353,803 without parking

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

Unit 203: $661.38 without parking

Unit 304: $695.32 without parking

What the HOA dues cover

Professional Management, Insurance, Reserves, Common Electricity, Recology

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

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

Smoking Policy

No smoking permitted in any unit or common area.  Please see the CC&R for the complete smoking policy.

Pet Policy

Two domestic pets.  Please see the CC&R for the complete pet policy.

Parking

No Parking Space

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

(Households must be at least as many people as bedrooms in the unit. Please visit https://sfmohcd.org/ami-levels-homeownership 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

Stainless Steel Bosh Appliances - Refrigerator, Dishwasher, Stove, Microwave

Amenities

Shared Patio Area, Elevator, Bike Storage, Courtyard, Grill

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.

• BMR Downpayment Assistance Loan Program (BMR DALP): A deferred down payment assistance loan available to qualified households for up to 15% of the purchase price.

• Teacher Next Door Program (TND): A loan assistance program for active educators serving the SFUSD.

• 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 $15,000 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)

Mike Stack

BRE 01932280

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

Vanguard Properties

2501 Mission Street

San Francisco, CA 94110

Office Hours (including any special message)

Monday to Friday

9:00 am to 6:00 pm

Please call to set up an appointment.

Phone

(415) 580-9095

Email

mikestack@vanguardsf.com

Open houses

Individual viewings available by appointment only.  Please contact the Listing Agent, Mike Stack, for assistance.

Realtor commission

Are buyers’ realtors eligible for commission on these BMR units? Yes

If yes, what percentage of the sales price will be offered to the buyer’s realtor? 2.5%

Buyer to provide his/her realtor’s full name and brokerage information via email to the seller’s agent.

How to obtain an application

Please contact Mike Stack or click here to download the application.

Applications – First Come, First Served

Application period began on 10/03/2022 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, 832 Sutter. 

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 “832 Sutter– Last Name, First Name” (Example: 123 Sample Street Unit A – Smith, John). 

Changes to the application process due to COVID‐19. 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

** Application period began on 10/03/2022 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.

Special note(s)

Open Floorplans, Modern Construction, Exceptional natural light, Elevator building

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

January 1^st 2022