250 King St #518
This is an income-restricted (BMR) resale. Its price is set by an income formula, not by the market, so the gap against normal comps is not equity you own — it is a restriction you inherit, with income limits to qualify and a formula price when you sell. Scoring it against market comps would flatter it enormously, so we don't score it at all.
💵What this unit actually costs per month
41% of that payment is not the mortgage. The HOA fee alone is $69,720 over five years — money that buys you no equity. A calculator that defaulted the fee to zero would have quoted you $2,981.
Not FHA-approved. No 3.5%-down FHA financing on this unit, so the realistic floor is a 5%-down conventional loan ($22,126). Common for small associations and not a defect on its own, but it does remove FHA buyers from your resale pool.
Minimum realistic down payment here: 5% · verify on HUD's lookup
Rate is the Freddie Mac PMMS 30-year average for the week of 2026-10-08 — a national survey figure, not a quote. Tax, insurance and closing costs are estimates; your own Loan Estimate is the real number.
This building's HOA fees
🚩 Rising fast · +6.5%/yrReconstructed from 12 units of recorded sales at 250 King St — every recorded sale carries its HOA fee and date. No listing site shows this.
These dues climbed 21% in 3 years — about +6.5%/yr across 12 units of recorded sales, well above inflation. A rise this steep is a leading signal of a special assessment, a drained reserve fund, or an insurance shock. The listing never shows it; the building's documents are where the "why" lives.
🏢 Get this building's full reserve & assessment report — free →✅ Positives
- 60% below model fair value
- Upper floor (fl 5)
⚠️ Cons
- HOA $1162/mo
- Photos look dim — verify light in person
🚩 Red flags
- Income-restricted (BMR) resale — price set by an income formula, not the market; buyer income limits apply and the gap vs comps is not equity
- Very high HOA $1162/mo (full-service high-rise)
Photos
Price history (this unit)
- Sep 28, 2026 — Listed $442,519
- Oct 17, 2013 — Sold (MLS) $250,011
- Oct 17, 2013 — Sold (Public Records) $250,500
- Jun 28, 2013 — Listed $250,011
Description
Light filled 2bd 2bth with deck at the The Beacon. Close to shopping, ballpark, transportation, freeway. Building amenities include pool, spa, gym, dog area, event room, 24 doorperson. Leased parking available. Temporary waivers apply to this unit 20% over posted AMI which would be 120% AMI, Asset test waived, see Dahlia listing for complete waivers list. Below Market Rate (BMR) housing opportunity available at 100% Area Median Income (AMI). See waivers for higher qualifying AMI 2-bedroom Below Market Rate (BMR) housing opportunity available at 100% Area Median Income (AMI). Maximum income for 2 people = $129,700; 3 = $145,900; 4 = $162,100; 5 = $175,050, etc. Must be 1st-time homebuyer &…