The City desires to assist persons and families of moderate income to purchase residential property and to increase, improve, and preserve moderate income housing available at affordable housing costs within the territorial jurisdiction of the City. Moderate Income participant(s) will purchase the Property from the Seller for less than fair market value. Moderate Income Chart: 1 Persons in Household limit $64,900, 2 Persons in Household limit $74,200, 3 Persons in Household limit $83,500, 4 Persons in Household limit $92,750, 5 Persons in Household limit $100,150. Affordable housing cost shall not be less than 28 percent of the gross income of the household, nor exceed the 35 percent. Assumption Agreement: The property was initially built with the assistance of density bonuses provided by the City of Baldwin Park (referred to as “City�) and is restricted to affordable housing for persons or families of moderate-income. An agreement Containing Covenants Affecting Real Property (referred to as the “Agreement�) has been placed on title to the Property. This document restricts the resale and occupancy of the Property until April 24th, 2043. Restrictions are: Property sold only to another moderate-income household. Eligible buyer must be certified by the City. Property must be principal residence. No Renting is permitted. Watch Video https://youtu.be/0PQ_434CB9Q
Courtesy of Keller Williams Pacific Estate, Susan Waldron
Data last updated 4:03:00 PM, 02/27/2021
Based on information from California Regional Multiple Listing Service, Inc. as of 02/27/2021. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
Courtesy of Keller Williams Pacific Estate, Susan Waldron