A fantastic studio located in a dedicated artist community building in Malden Center. Building is a beautiful former convent, and this wonderful space offers easy access to shopping, dining and the Malden Center T.
This well-appointed unit is very sunny with east/southeast exposure, large windows, high ceilings and exposed brick. The condo was thoughtfully designed and features a granite kitchen w/ SS apps, ceramic tile bath, and hardwood floors throughout. A separate, exclusive-use work space is located just across the hall on the same level as the residential space and features a custom built in desk, slop sink, and storage.
Both spaces have central air conditioning. This unit also comes with a deeded garage parking spot and deeded storage closet. Building has separate bike storage, common roof deck and common laundry. This is a great place to live and work.
Buyer must meet income eligibility ($82,950/single) AND be a working artist to purchase this unit.
Total assets cannot exceed $75,000. Assets include checking and savings, CDs, stocks and bonds, gifted funds, retirement accounts including pensions and 401Ks, Roth IRAs and real property.
Down payment & closing cost assistance available via Malden Redevelopment Authority.
Owner Occupants only.
No cash buyers.
Their definition of artist is fairly broad and inclusive - “A person who is a working artist, who is able to present a recent body of work and who derives a portion of his/her annual income from art or creative work that is written, composed, created, performed or executed for a ‘one of a kind,’ limited production, exclusive of industry-oriented distribution or production, including but not limited to, art directors, craft artists, fine artists (including painters, printmakers, sculptors, photographers, illustrators, multi-media artists and animators); performing artists (dancer, actor, musician or singer); art teachers, painting restorers and/or other art-related workers.”
$249, 799
IMPORTANT INFORMATION: Equal Housing Opportunity. Affordable unit. Buyer must be income eligible (*HUD Income Limits). Owner occupants only. Unit subject to affordable housing covenant.
HUD Income Limits 80% Median Family Income (MFI) (effective June 15, 2023):
1 person household: $82,950.00
2 person household: $94,800.00
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