BMR Resale -1695 18th Street Unit 308

Posting Date

** Updated 01/07/2022, the lottery list has been exhausted.  Applications are being accepted on a first come, first served basis starting on January 14, 2022 at 8:00 AM PST.  Any applications uploaded before 8:00 AM PST on 01/14/2022 will be automatically deleted. **

 

Original Posting Date on DAHLIA: June 30, 2021

Program

Live/Work Affordable Ownership Program

Type of Unit

 

Condominium - Artist Live/Work Unit

At least a member of the household member must hold a valid and active 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.

 

Arts Activities are defined in San Francisco Planning Code Section 102.2, and attached as Exhibit B of the PDF icon Grant and Regulatory Agreement.  

 

Building Name

Goodman II

Unit Address (including city/state/zip code)

1695 18th Street, Unit 308

San Francisco, CA 94107

Maximum Asking Price

$257,158

Neighborhood

Potrero Hill

Supervisory District

10

Number of Bedrooms

Studio

Number of Bathrooms

1

Square Footage

636

Floor Number

2

Year Built

1996

Appliances Included in the Sale of the Unit  

Refrigerator, Electric Stove

 

Building Amenities

Courtyard

Parking Space Count

One (1) Parking Space

Smoking Policy

No Smoking in the building.  Please see the CC&R for the complete smoking policy.

Pet Policy

Fish, 1 dog or cat or 2 birds inside a bird cage.  Please see the CC&R for the complete pet policy.

Monthly HOA Dues

$496

What the HOA Dues Cover

Management, Exterior Maintenance, Grounds Maintenance, Trash & Water

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:

 

80% 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 2021

Household Size

Maximum Income at 80% of AMI

1

$74,600

2

$85,250

3

$95,900

4

$106,550

5

$115,100

6

$123,600

7

$132,100

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

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)

Karen Mai

License #01849461

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

Coldwell Banker Realty

2633 Ocean Ave

San Francisco, CA 94132 

Office Hours (including any special message)

Monday to Friday, 9:00 am to 5:00 pm

Saturday & Sunday by appointment

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

Phone

415-602-5288

Email

Karen@MaiHomes.com

Website

www.MaiRealEstate.com

How to obtain an application:

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

 

Applications:

First Come, First Served

Lottery List has been exhausted. Applications are being accepted on a first come, first served basis starting January 14, 2022 at 8:00 AM PST.  Any applications submitted prior to 8:00 AM PST, January 14, 2022 will be automatically deleted.

How to Submit a First Come, First Served Application

Submit a complete electronic application package via this ShareFile secure link, 1695 18th St Unit 308.

 

Instructions: Compile the application form and all required documents into one PDF file, and name the PDF file “1695 18th Street Unit 308 – 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

 

** This lottery list has been exhausted.  Applications are being accepted on a first come, first served basis starting on January 14, 2022 at 8:00 AM PST.  Any applications submitted prior to 8:00 AM PST on January 14, 2022 will be automatically deleted. **

 

To view the lottery results, click here.

To view the Dahlia listing, click here.

Open Houses

Individual showings may be available by appointment only.  Please contact the listing agent, Karen Mai, 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 Goodman II Grant and Regulatory Agreement 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 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual and the Goodman II Grant and Regulatory Agreement for specific information.