Posting Date

** Updated 11/29/2021, the lottery list has been exhausted.  Applications are being accepted on a first come, first served basis starting on December 6, 2021 at 8:00 AM PST.  Any applications uploaded before 8:00 AM PST on 12/06/2021 will be automatically deleted. **

Original Posting Date on DAHLIA: 10/18/2021

Program

Inclusionary Housing Program

Type of Unit

Townhouse

Building Name

True Hope Square

Unit Address (including city/state/zip code)

2992 Arelious Walker Drive (AKA: 900 Gilman Ave, #19)

San Francisco, CA 94124

Maximum Asking Price

$520,000

Affordable Price

The affordable price is $496,957 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.

Is the sales price of this BMR Unit negotiable?

No

If negotiable, please indicate how much or what the lowest sales price will be for this unit.

N/A

Neighborhood

Bayview

Supervisory District

10

Number of Bedrooms

2

Number of Bathrooms

1

Square Footage

750

Floor Number

N/A

Year Built

2006

Appliances Included in the Sale of the Unit  

Washer, Dryer, Refrigerator, Stove/Oven, Hood Over Range, Dishwasher

Building Amenities

Laundry in private own garage, Garden, Gated Community

Parking Space Count

1 Car private garage parking space, interior access, storage space in garage.

Smoking Policy

No smoking, please refer to the CC&R for the complete smoking policy. 

Pet Policy

1 Pet is allowed.  Please refer to the CC&R’s page 28 for the pet policy.

Monthly HOA Dues

$231

What the HOA Dues Cover

Water, landscaping, grounds maintenance, common area insurance

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 2021

(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)

Angela Ho

License # 01882671

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

Century 21 Real Estate Alliance

1569 Sloat Blvd, Suite 300

San Francisco, CA 94132

Office Hours (including any special message)

Monday to Friday, 10:00 am to 6:00 pm

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

Phone

(415)283-7271

Email

AngelaRealty@hotmail.com

Website

https://sfareahomes.com

Applications:

First Come, First Served

Lottery List has been exhausted. Applications are being accepted on a first come, first served basis starting December 6, 2021 at 8:00 AM PST.  Any applications submitted prior to 8:00 AM PST, December 6, 2021 will be automatically deleted.

How to Submit a First Come, First Served Application

Submit a complete electronic application package via this ShareFile secure link, 2992 Arelious Walker Drive.

Instructions: Compile the application form and all required documents into one PDF file, and name the PDF file “2992 Arelious Walker – 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 December 6, 2021 at 8:00 AM PST.  Any applications submitted prior to 8:00 AM PST on December 6, 2021 will be automatically deleted. **

To view the Dahlia listing, click here.

The Lottery for this listing was cancelled due to insufficient applications received.

Open Houses

Individual showings may be available by appointment only.  Please contact the listing agent, Angela Ho, for assistance.

Important Program Rules

All potential buyers must review the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual that govern 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.