Posting Date

** Updated 12/17/2020 – Applications are still open on a first come, first served basis. **

Original Posting Date: July 6, 2020

First Come, First Served Posting Date: September 2, 2020

Program

Inclusionary Housing Program

Type of Unit

Condominium

Building Name

The Watermark

Unit Address (including city/state/zip code)

501 Beale Street Unit 11F, SF, CA 94105

Maximum Asking Price

$399,449

Neighborhood

Financial District/South Beach

Supervisory District

District # 6

Number of Bedrooms

2

Number of Bathrooms

1

Square Footage

852

Floor Number

11^th

Year Built

2006

Appliances Included in the Sale of the Unit 

Gas Range, Dishwasher, Microwave, Garbage Disposal, and Washer/Dryer

Building Amenities

The Watermark's services include: 24/7 staffed front desk, fitness center; lap-pool; spa; barbecue area, and on-site manager.

Parking Space Count

No Parking Space

Smoking Policy

No Smoking.  Please see CC&R’s for the complete smoking policy.

Pet Policy

2 pets maximum.  Please see CC&R’s for the complete pet policy.

Monthly HOA Dues

$1,044

What the HOA Dues Cover

Water, Garbage, Ext Bldg Maintenance, Grounds Maintenance, Door Person, Homeowners Insurance, Outside Management.

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:

120% 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)

Charles Loiacono, License # 01989355

Sabrina Gee-Shin, License # 01457747

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

Corcoran Global Living

2523 California St

San Francisco, CA 94115

Office Hours (including any special message)

Monday to Sunday, 10:00 AM to 3:00 PM

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

Phone

732-670-6860

Email

Charles@EmbraceSF.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. Applications are being accepted on a first come, first served basis starting September 9, 2020 at 8:00 AM PST.  

How to Submit a First Come, First Served Application

Submit a complete electronic application package via this ShareFile secure link, 501 Beale Street Unit 11F.

Instructions: Compile the application form and all required documents into one PDF file, and name the PDF file “501 Beale St # 11F – 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

** Updated 12/17/2020 - Applications are still open on a first come, first served basis. **

To view the lottery results, click here.

To view the Dahlia listing, click here.

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 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.