JUNE 11TH, 2026

318 Larkspur Plaza Larkspur, CA 94939

2 BD / 2 BTH CONDO

$459,500

Outdoor swimming pool with tan deck, blue water, trees, and apartment buildings under a clear sky
Backyard patio with a small rectangular pool, white fence, and lounge chair under a sunny sky
Bike rack beside a gray building with several parked bicycles in a sunny courtyard
Home gym with treadmill, elliptical, stationary bike, and mirrored walls
Bright bathroom vanity with sink and large mirror, white walls, towel bars, and wood floor
Small white bathroom with toilet, sink, mirror, and bathtub shower combo
Empty white walk-in closet with wire shelving and hanging rods.
Empty white bedroom with mirrored closet doors, green carpet, and a closed door
Empty white room with gray carpet and a doorway in the back wall
Empty white room with carpet and a window overlooking trees
Bright vacant apartment with open kitchen, white cabinets, gray carpet, and ceiling fans
Empty white apartment living room with carpet, ceiling fan, and small kitchen with breakfast bar.
Bright white galley kitchen with tiled counters, gas stove, sink, and refrigerator
Empty living room with green carpet and open kitchen, white walls, and ceiling fan above.
Empty carpeted living room with white walls, sliding glass door, and a closed white door
Empty white room with green carpet and sliding glass doors to a patio

Sale Price: $459,500

This beautifully updated ground-floor condo in the desirable Larkspur Isle community offers modern comfort and convenience in the heart of Marin County. The single-level layout is ideal for easy everyday living and entertaining.    Recent upgrades include fresh interior paint, new Luxury Vinyl Plank flooring in the kitchen and bathrooms, a brand-new electrical panel, and updated switches and outlets. The contemporary kitchen features an electric range, dishwasher, refrigerator, and new range hood. The spacious primary suite includes an updated bathroom with a new tub and shower surround.    Enjoy a peaceful, low-maintenance lifestyle in a highly walkable and bikeable neighborhood close to parks, shopping, Highway 101, local transit, and the Larkspur Ferry Terminal for easy access to San Francisco. HOA is $949.00 per month. 318 Larkspur Plaza Drive is a move-in-ready home offering comfort, style, and convenience. 


Marin Housing’s BMR Homeownership Program offers low to moderate-income, first-time homebuyers the opportunity to purchase one of approximately 320 BMR homes throughout Marin County at prices substantially below market value. Resale Restrictions are recorded on title to ensure the property’s continued affordability and stipulate program requirements.

Household Size 80% AMI 120% AMI
1 Person $108,300 $168,650
2 People $123,800 $192,800
3 People $139,250 $216,850
4 People $154,700 $240,950
5 People $167,100 $260,200
6 People $179,500 $279,500
7 People $191,850 $318,050

How This Lottery Works


1) Identify a real estate agent to represent you in the homebuying process.

2) Your agent submits your name, household size, estimated gross income, and a preapproval letter form a lender to the listing agent before the deadline.

3) Marin Housing will conduct a randomized lottery after June 11th, 2026, to determine ranking of completed applications, and winners will have a week to submit a full offer package for all adults:


Completed and signed Marin Housing application including the following supporting documents:


  • Income verification documents (w2, 3 recent paystubs, SSI, etc.)
  • Asset verification documents (3 months statements for all checking/savings)
  • First-Time Homebuyer Certificate from a HUD certified counseling agency
  • A lender’s prequalification letter from a qualified BMR lender.
  • Signed RRA disclosure document.


4) Eligible applicants will be invited into a purchase agreement in lottery ranking order.


Submission Instructions


For submission instructions, please contact the Listing Agent, Rachel Percival, at Rachel.Percival@compass.com or 415.933.7681

For general questions related to the Below Market Rate Program and the Deed Restrictions, please contact Marin Housings BMR Department at bmr@marinhousing.org  or 415.491.2550


Requirements & Restrictions


  • Owner-occupancy required as your primary residence.
  • Renting or subletting is prohibited.
  • Resale prices are restricted.
  • Must meet first time homebuyer criteria and 120% AMI income limits.


Timeline & Next Steps


Application Deadline: June 11th, 2026, at 11:59pm

Lottery Date: June 12th, 2026


The top 3–5 applicants will be notified within 1–2 business days and must be prepared to advance in the purchase process. This includes providing an updated mortgage preapproval if needed.

Downpayment Assistance may be available for Eligible Households earning below 80% AMI.


EMAIL MARIN HOUSING STAFF OR VISIT OUR WEBSITE FOR INFO BMR@MARINHOUSING.ORG

WWW.MARINHOUSING.ORG/BELOW-MARKET-RATE-PROGRAM

Access Online Application or Download Application Here Below Market Rate (BMR) Lottery Drawings