1 bedroom, 1 bath. This beautiful unit is part of the Burbank Collection, an upscale condominium complex located in the heart of downtown Burbank. For a limited time, the condo is being offered under Burbank’s Housing Affordability Program (see important qualifying details below). The condo has a spacious and open layout with a large living room, plenty of natural light, a large washer/dryer pantry, 2 tandem parking spaces, and additional storage in the underground parking area. The complex features amazing amenities: a state of the art gym, basic Direct Tv service, water, trash, gas, a relaxing outdoor pool, an entertainment lounge with a pool table and flat screen TV, an outdoor putting green, patio BBQ stations, a gas fire pit, even a Bocce ball court. With too many amenities to mention please don’t miss this great opportunity for a first-time buyer!
Prospective purchasers *MUST* be income-qualified by the City of Burbank. Income guideline for the city’s affordable sales price: Buyer must make between $50,500-$54,450 for 1 person – purchase price will be $224,672 * $57,700-$62,200 for 2 people – purchase price will be $252,080 * $64,900-$70,000 for 3 people – purchase price will be $293,512. The City will be pre-screening the potential buyer so you MUST make between those ranges (NO EXCEPTIONS). Minimum 5% down payment. Buyer must assume a silent second loan, which does not require interest or monthly payments as long as the buyer follows city requirements * Must be owner occupied!