BMR Resale - 85 Ora Way Unit E207

Posting Date

** Updated 10/12/2022 – The application period started on May 13, 2022, at 8:00 AM PST and remains open as first come first served. **

 

Original Posting Date on DAHLIA: 11/08/21

Initial First Come First Served Posting Date: 5/6/2022

Program

Condo Conversion Below Market Rate Program

Type of Unit

Condominium

Building Name

Goldmine Hill

Unit Address (including city/state/zip code)

85 Ora Way, Unit 207

San Francisco, CA 94131

Maximum Asking Price

$420,551

Neighborhood

Glen Park

Supervisory District

8

Number of Bedrooms

1

Number of Bathrooms

1

Square Footage

676

Floor Number

2

Year Built

1975

Appliances Included in the Sale of the Unit 

Dishwasher, Disposal, Microwave, stove, vent hood & Refrigerator

Building Amenities

Clubhouse, pool, Gym, Laundry Coin, Spa/Hot Tub

Parking Space Count

1

Smoking Policy

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

Pet Policy

2 pets allowed. Please see the CC&R for the complete pet policy

Monthly HOA Dues

$652

What the HOA Dues Cover

Management, Exterior Maintenance, Trash, Grounds Maintenance, and Water.

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 2022

 

Household Size

Maximum Income at 120% of AMI

1

$116,400

2

$133,000

3

$149,650

4

$166,250

5

$179,600

6

$192,850

7

$206,150

 

(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: Changes in AMI - MOHCD will use the income limit from the current year’s AMI chart to determine eligibility for 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)

Charles Loiacono

Lic: 01989355 

 

Sabrina Gee-Shin

Lic: 01457747

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

Compass

891 Beach Street

San Francisco, California 94109

Office Hours (including any special message)

Monday to Friday

9:00 am to 5:00 pm

Phone

Charles Loiacono:

Primary: 732-670-6860, Secondary: 415-674-6500

Sabrina Gee-Shin

Phone: 415-290-3378  

Email

Charles@EmbraceSF.com

Website

EmbraceSF.com

How to obtain an application:

Contact the Listing Agents, Charles Loiacono or Sabrina Gee-Shin, or download from MOHCD’s website by clicking here.

Applications:

First Come, First Served

The application period started on May 13, 2022, at 8:00 AM PST and remains open as first come first served.

 

 

 

How to Submit a First Come, First Served Application

Submit a complete electronic application package via this secure link, 85 Ora Way, Unit E207.

 

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 “85 Ora Way Unit E207 – Last Name, First Name” (Example, 123 Sample Street Unit A – Smith, John).

Changes to the application process due to COVID19. 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.  The application period started on May 13, 2022, at 8:00 AM PST and remains open as first come first served. **

 

To view the lottery results, click here.

To view the Dahlia listing, click here.

Open Houses

Individual viewings may be available by appointment only.  Please contact the listing agents, Charles or Sabrina, 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 firsttime homebuyer, income and other qualifications for the program. Please review the 2018 Inclusionary Affordable Housing Program Monitoring and Procedures Manual for specific information.