Posting Date

** Updated 10/25/2022, the lottery list has been exhausted.  Applications are being accepted on a first come, first served basis starting on November 1, 2022, at 8:00 AM PST.  Any applications uploaded before 8:00 AM PST on 11/01/2022 will be automatically deleted. **

Original Posting Date on DAHLIA: August 5, 2022

Program

Limited Equity Homeownership Program

Type of Unit

Condominium

Building Name

4800 3rd Street

Unit Address (including city/state/zip code)

4800 3^rd Street Unit 201

San Francisco, CA 94124

Maximum Asking Price

 $299,900

Affordable Price

The affordable price is $293,490 for this BMR unit.  The affordable price is based on what a household earning at 80% 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

Square Footage

712

Floor Number

2

Year Built

2009

Appliances Included in the Sale of the Unit 

Stove, refrigerator, dishwasher, microwave, washer & dryer

Building Amenities

Courtyard

Parking Space Count

No parking space

Smoking Policy

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

Pet Policy

No more than 1 dog or 2 birds or cats may be kept. Please see the CC&R for the complete pet policy

Monthly HOA Dues

$507

What the HOA Dues Cover

Water, Garbage, Professional Management, Exterior Building 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:

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 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)

Scott Keller

License #00963841

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

Scott Keller

228 30^th Avenue

San Francisco, CA 94121

Office Hours (including any special message)

Monday to Friday, 10:00 am to 4:00 pm

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

Phone

(415) 794-7841

Email

smsinsf@pacbell.net

How to obtain an application:

Contact the Listing Agent, Scott Keller, 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 November 1, 2022, at 8:00 AM PST.  Any applications submitted prior to 8:00 AM PST, 11/01/2022 will be automatically deleted.

How to Submit a First Come, First Served Application

Submit a complete electronic application package via this secure link, 4800 3^rd St Unit 201.

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 “4800 3^rd Unit 201 – 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

** Lottery List has been exhausted. Applications are being accepted on a first come, first served basis starting November 1, 2022, at 8:00 AM PST.  Any applications submitted prior to 8:00 AM PST, 11/01/2022 will be automatically deleted. **

To view the DAHLIA listing, click here.

To view the Lottery List, click here.

Open Houses

Individual viewings may be available by appointment only.  Please contact the Listing Agent, Scott Keller, 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 Limited Equity Program Loan Disclosure Book 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 Limited Equity Program Loan Disclosure Book and 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual for specific information.