JULY 25TH 2024 2 TERRACE DRIVE 3 BD/ 2 BTH TOWNHOME $525,000
Sale Price: $525,000
A charming 1500+ square foot, three-bedroom/two-bathroom Below Market Rate (BMR) townhome in the Marin City Townhomes Complex has become available to 3+ person households with income up to 120% of the Area Median Income (AMI). This spacious unit features a garage with in-unit laundry, a full kitchen with an island overlooking the living room, and a private fencedin yard with access to pathways and other amenities. HOA dues are $430.10/month.
Marin Housing’s BMR Homeownership Program offers low to moderate income, first-time homebuyers the opportunity to purchase one of 329 BMR homes throughout Marin County at prices that are substantially below the market value. Resale Restrictions are recorded on title to ensure the property’s continued affordability and stipulate the requirements of BMR ownership.
When a BMR becomes available, a lottery is drawn from among names of eligible households who’ve applied and are actively enrolled in the BMR Lottery Pool the day prior to the drawing.
The lottery drawing is for this BMR is scheduled for July 25th 2024, and the top 10 winners will be promptly notified and asked to provide a mortgage preapproval letter at that time.
| Household Size | 80% AMI | 120% AMI |
|---|---|---|
| 2 | $119,300 | $168,000 |
| 3 | $134,200 | $189,000 |
| 4 | $149,100 | $210,000 |
MARIN CITY PREFERENCE: If you live and/or work in Marin City, please contact Christina Junker at the Marin City Community Development Corporation (cjunker@marincitycdc.org) to validate your status and receive preference in the lottery
EMAIL MARIN HOUSING STAFF OR VISIT OUR WEBSITE FOR INFO BMR@MARINHOUSING.ORG
