CLAM acquired its first property in August 2005, converting a 3-bedroom, 2-bathroom house into two rental units. Both units were occupied in early 2006. CLAM financed the purchase with a $350,000 low-interest loan from the Marin Community Foundation and used $400,000 of locally raised funds and inherited assets to subsidize the expansion and renovations. A family of three lives in the larger, two-bedroom front unit, and a woman and her elder mother live in the one-bedroom back unit.