Directory
Below Market Rate (BMR) Home Ownership Restrictions
BMRs comes with responsibilities and restrictions BMR owners must adhere to. Restrictions on the BMR are in place for forty-five (45) years from the date of purchase. Key ownership restrictions include:
- At the time of resale, the City will assign a maximum resale price the BMR can be sold at.
- The BMR must be sold to an eligible city approved buyer.
- BMRs have refinance guidelines and restrictions. All refinances must be approved by the City
- The property must be maintained in good condition at all times.
- The BMR owner is required to maintain full time residency for at least ten out of twelve months a year. Strict restrictions disallow the property to be rented out.
- Guidelines and restrictions govern the requirements and capacity to pass property title to an heir, and to any non-BMR Program eligible household. All BMR title transfers must be reviewed and approved by the City.
To learn more about BMR home ownership, click here.
City of Walnut Creek
Below Market Rate Ownership Opportunity
555 Ygnacio Valley Road, Walnut Creek, CA 94596
Maximum Sales Price: $248,114
One-bedroom and one and one-half-bathroom, two level condominium / 1,028 Square Feet (per tax records)
Monthly Home Owners Association Fee: $700
The Below Market Rate (BMR) unit at 555 Ygnacio Valley Road is a spacious 1,028 square foot two level home that has an upper floor bedroom, and 1.5 baths. This condo is located in the heart of Walnut Creek within a five-minute walk from downtown and BART, and is close to shopping, dining, and entertainment at Broadway Plaza. The spacious condo is in excellent move-in condition. Residents have access to an array of amenities, including a rooftop deck with fire pit and BBQ grills, a fully equipped gym, media room, maintained courtyard, and a secure, controlled-access building and parking structure. Included with this home is a washer/dryer and storage unit.
Applications now closed.
The application period for this BMR property had expired at 5:00PM Friday, June 26, 2026. BAAHA is not accepting any new applications for this property. All lottery applications submitted after the submission deadline for this property will not be processed.
Applicants that submitted applications prior to the deadline will be notified by email regarding their application and lottery status by or before July 7, 2026.
BAAHA
The City of Walnut Creek (City) contracts the Bay Area Affordable Homeownership Alliance (BAAHA), a non-profit 501c3 organization, to administer the sale of the City’s BMRs. BAAHA provides the following services to oversee the sale of the City’s BMRs:
- Conducts outreach directed to the Walnut Creek community to increase awareness of affordable BMR purchase opportunities.
- Coordinates and directs households to homebuyer education and counseling resources
- Collects and screens BMR purchase eligibility applications submitted by prospective BMR buying households
- Manages the Program application intake, underwriting, and Program eligibility screening. Conducts the BMR lottery.
- Responsible for directing, supporting, and implementing all steps and aspects of the BMR program approval, purchase, and closing process
BAAHA’s administrative director, Walter Zhovreboff, is the real estate broker representing the sale of the property through Home Quest Realty (DRE# 00661978).