Posting Date

** Updated 08/24/2021, this listing has been cancelled. This BMR unit is no longer available for purchase.**

First Come First Served Initial Posting Date: 01/25/2021

Original Posting Date on Dahlia: 11/18/2020

Program

Inclusionary Housing Program

Type of Unit

Condominium

Building Name

400 Grove

Unit Address

400 Grove Street, Unit 101, San Francisco, CA 94102

Maximum Asking Price

$389,820

Affordable Price

The affordable price for this unit is $342,690 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

Hayes Valley

Supervisory District

5

Number of Bedrooms

1

Number of Bathrooms

1

Square Footage

485

Floor Number

1

Year Built

2015

Appliances Included in the Sale of the Unit  

Range, refrigerator and dishwasher

Building Amenities

Roof deck

Parking Space Count

1

Smoking Policy

Smoking is not permitted in common areas and exclusive use common areas.  Please see the CC&R for the complete smoking policy.

Pet Policy

Pets allowed but restricted. Limit of 2 dog/cats.  Please see the CC&R for the complete pet policy.

Monthly HOA Dues

$766

What the HOA Dues Cover

Parking/garbage, water, maintenance, and building 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 2020

(Households must be at least as many people as bedrooms in the unit. Please visit www.sfmohcd.org 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)

Andrea Swetland

License # 01179634

Company Name and Address

Vanguard Properties

1801 Fillmore Street

San Francisco, CA 94115

Office Hours

Monday-Friday 9:30 AM to 5 PM

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

Phone

415.385.4768

Email

andrea@welcomehomesf.com

Website

www.welcomehomesf.com

How to Obtain an Application

Contact realtor or download from MOHCD website by clicking here

Applications – First Come, First Served

Lottery List has been exhausted. The first come, first served application period began on February 1, 2021 at 8:00 AM and remains open on a first come, first served basis.

How to Submit a First Come, First Served Application

Submit a complete electronic application package via this ShareFile secure link, 400 Grove Street # 101.

Instructions: Compile the application form and all required documents into one PDF file, and name the PDF file “401 Grove St #101 – 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.  The first come, first served application period began on February 1, 2021 at 8:00 AM and remains open on a first come, first served basis.

To view the lottery results, click here.

To view the Dahlia listing, click here.

Virtual Tour Link

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 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.