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. **

Original DAHLIA Posting Date: August 8, 2022

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

Program

Inclusionary Housing Program

Type of Unit

Condominium

Building Name

170 Off Third

Unit Address (including city/state/zip code)

170 King St #1010

San Francisco CA 94107

Maximum Asking Price

$388,031

Affordable Price

The affordable price is $361,226 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

Mission Bay

Supervisory District

6

Number of Bedrooms

Studio

Number of Bathrooms

1

Square Footage

499 per tax records

Floor Number

10

Year Built

2007

Appliances Included in the Sale of the Unit 

Stove, refrigerator, dishwasher, microwave, W/D

Building Amenities

Pool, spa, owners lounge, courtyard with seating, fitness center, roof deck, Private theater

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 a total of 2 domestic dogs or cats. No fighting breeds. Please see the CC&R for the complete pet policy.

Monthly HOA Dues

$688

What the HOA Dues Cover

Water, trash, outside management, exterior 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

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: MOHCD will use the income limit from the most recent year’s AMI Chart to qualify 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 St

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

Please contact Rob Belli 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:

First Come First Served Application

Submit a complete electronic application with all required documents as a single PDF file via this secure link, 170 King St #1010.

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 “170 king St #1010 – 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 DAHLIA listing, click here.

The Lottery was cancelled due to insufficient applications received.

Open Houses

Individual viewings are available by appointment only.  Contact the Listing Agent, Rob Belli, for assistance.

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 first‐time homebuyer, income and other qualifications for the program. Please review the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual for specific information.