Posting Date

** Updated 10/11/2022 - Application period started on September 21, 2022 at 8:00 AM PST and remains open as first come first served. **

Initial Posting Date on DAHLIA:  August 8, 2022

Initial First Come First Served Posting Date: September 14, 2022

Program

Live/Work Affordable Ownership Program

Type of Unit

Artist Live/Work Unit

At least a member of the household member must hold a valid and active City and County of San Francisco Business License to authorize art activities at the time of application and will principally use a portion of the unit for arts activities as required under the Project Use Restrictions.

Art Activities Requirement

Arts Activities are defined in San Francisco Planning Code Section 102.2, and attached as Exhibit B of the Special Restrictions Document.

Building Name

1578 Indiana Street

Unit Address (including city/state/zip code)

1578 Indiana Street, Unit 11

San Francisco, CA 94107

Maximum Asking Price

$502,166

Affordable Price

The affordable price is $346,773 for this BMR unit.  The affordable price is based on what a household earning at 100% of Area Median Income can afford according to certain pricing assumptions.

Applicants can make an offer between the maximum sales price and the affordable price. The seller is free to accept or reject the price offered by the buyer.  Some sellers may not negotiate at all.  

We recommend that the buyer work with their own separate real estate agent for the price negotiations.

If you pay more than the affordable price, you will not be eligible for the BMR DALP program. If you pay more than the affordable price now, you might not be able to sell for more than the affordable price as calculated when you sell.

Neighborhood

Bayview Hunters Point

Supervisory District

10

Number of Bedrooms

1

Number of Bathrooms

1.5

Square Footage

962

Floor Number

2

Year Built

2003

Appliances Included in the Sale of the Unit 

Refrigerator, stove, dishwasher, microwave, washer, and dryer.

Building Amenities

Roof Deck

Parking Space Count

1

Smoking Policy

No smoking in common areas. Please see the CC&R for the complete smoking policy.

Pet Policy

No more than 2 usual and ordinary household pets. Please see the CC&R for the complete pet policy.

Monthly HOA Dues

$773

What the HOA Dues Cover

Water, trash, outside management, and common area maintenance.

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

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

Income Level of Applicants

Applicants must make no more than the following amounts per household:

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.

Other Qualification Notes

All titleholders/borrowers 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. 

All titleholders/borrowers 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. All MOHCD-Approved Lenders should explore down payment and grant options with BMR buyers. Households must be as many people (or more) as number of bedrooms in the unit to apply. 

Contact Person (Realtor/Sales Agent)

Robert Belli

License #01913570

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

Compass

3961 24^th Street

San Francisco, CA 94114

Office Hours (including any special message)

Monday to Friday, 10:00 am to 5:00 pm

Please call, email, or text to schedule an appointment.

Phone

(415) 317-8540

Email

rob.belli@compass.com

How to obtain an application:

Contact the Listing Agent, Rob Belli, or download from MOHCD’s website by clicking here.

Applications:

First Come, First Served

Application period started on September 21, 2022, at 8:00 AM PST and remains open as first come first served.

How to Submit a First Come, First Served Application

Submit a complete electronic application package via this secure link, 1578 Indiana St #11.

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 “1578 Indiana St #11 – 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 started on September 21, 2022 at 8:00 AM PST and remains open as first come first served. **

To view the Dahlia listing, click here.

The Lottery for this unit was cancelled due to insufficient applications.

Open Houses

Individual viewings may be available by appointment only.  Please contact the listing agent, Rob Belli, for assistance.

Virtual Tour

To view the virtual tour, please click on this link.

Important Program Rules

All potential buyers must review the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual and the Special Restrictions Documents 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 first‐time homebuyer, income and other qualifications for the program. Please review the Special Restrictions Documents and the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual for specific information.