113 Angani 2091 – Category Local

Blaine County Housing Authority is offering this Elkhorn Village 1-bedroom condo for sale under the Category L (Locals Only) program.

This is a spacious, ground floor 1-bedroom 1-bath unit for sale for $255,000. This unit has a full bathroom including a bathtub, a full kitchen including a dishwasher, and a washer/dryer hookup. The unit will be deed-restricted per BCHA Community Housing Guidelines Section 4, which can be found here.

If you are interested in this unit, please ensure you have completed a full BCHA application – including prequalification letter and first-time homebuyer’s course – by June 17th, 2024. This unit is offered to BCHA applicants in income categories Local, 6 and 5.

Size: 696 Square Feet

Taxes Estimated at $410/annually

Parking garage spot #113, 2nd spot on right as you enter.

Deed Restriction / Disclosure docs

AA-Category Local – 113 Angani 060524

BCHA Local Ownership Restriction – 113 Angani Way 2091

Sub Program Mortgage – 113 Angani Way 2091

Legal docs

Plat Map Building 3 Unit 3-A

Exhibit A 113 Angani Way 2091

RE25 A Exemption Seller’s Property Disclosure Condition Form

HOA dues / docs

$533.30: Elkhorn Village Monthly Dues (Association Fee Includes: Cable TV, Internet, Water, Trash, Snow Removal, Sewer, Maintenance Grounds, Maintenance Structure, (Exterior) Insurance, Electricity)
$337: Sun Valley Elkhorn Association Semi-Annual Dues (See https://elkhorninsunvalley.com/ for amenities)

Percentage of ownership: 0.9659

Annual Mem Minutes July 1, 2023

Annual Mem Minutes July 10, 2021

Annual Mem Minutes July 16, 2022

Capital Reserve Study Update Fall 2020

Income Statement for April 2024 bod mtg

CC&Rs Elkhorn Village & SVEA 195 pages

Bylaws

Summary Bullet Points on the Locals Only Deed Covenant – 3% Cap on Appreciation

  • Qualifications:
  •  Requirements:
    • Primary Residence: The owner must occupy the condo 9 out of 12 months, or as determined by program policies (BCHA Guidelines).
    • No short-term renting is allowed. Long-term renters living with the primary resident must be qualified and approved by the City/BCHA. Renting the unit is not allowed, unless owner is granted a 1-year leave.
    • Any capital improvements to the interior must be approved by City/BCHA in advance. Approved investments may be added to resale price subject to depreciation.
    • The City/BCHA must approve all subsequent loans / refinancing.
    • Owner must maintain the home, keep tax, HOA, insurance, and mortgage payments current, and is not allowed to incur liens.
    • Owner may not own or acquire any developed residential real estate.
  • Resale/Transfer:
    • Administrative Fee: There is 3% administrative fee paid to the City/BCHA to facilitate sales by the Seller at resale.
    • There is a cap on the appreciation from purchase price of 3% or CPI, whichever is less + approved Capital Improvements (following standard BCHA depreciation schedule). The City/BCHA will calculate the Maximum Resale Price when Seller decides to sell.
    • Seller shall have an inspection and make repairs prior to resale.
    • The property may be transferred to a relative or heir who qualifies as an Eligible Buyer.
  • Term: The restrictions are in place for a period of 70 years and renew at each transfer. At the end of the 70-year term (if no transfer), owner can record new restriction or pay the City the difference between the appraised market value at the time and the Maximum Resale Price.
  • Owners are responsible for reading, understanding, and adhering to the Community Housing Policies (also referred to in some documents as Guidelines) https://www.bcoha.org/community-housing-policies.html

 

Inspections

Radon Report #2091

Home Inspection Report #2091 – Electrical items have been repaired.

Photos

 

 

All information is deemed to be reliable, but is not guaranteed.