Rule set

LR2

Units

16 (cap 16)

Stories

6

FAR

0.94

Buildable SF

16,585

Net sellable / rentable SF

13,600

Average unit SF

850

Affordable set-aside

2 units · 2 Moderate-Income units or 1 Low-Income unit

Full SB 79 envelope (post-July 2026 timing): 55 units · 7 stories · FAR 3.25 · RLV -$366,807. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$10,457,033

Total development cost

$9,269,032

Required profit

$1,390,355

Residual land value

-$292,580

Max land per unit

-$18,286

Acquisition basis

$3,609,021

Spread over basis

-$3,901,601

• Outside Very High Fire Hazard Severity Zone✓ Pass
• Outside HPOZ historic overlay✓ Pass
• Not a Historic-Cultural Monument✓ Pass
• Outside sea-level-rise zone✓ Pass
• General Plan land use eligible✓ Pass
• SB 79 / Low-Rise transit eligibility✓ Pass
• Within half-mile walkshed of transit✓ Pass
• Not an individual condo / own-your-own unit✓ Pass
• Not publicly owned (900-series APN)✓ Pass
• Meets minimum lot size✓ Pass
• Not RSO-registered✓ Pass
• SCAG and city maps agree! Flagged

• ✕ Zone "R4-1-RIO" is not a single-family district — SB 9 applies only to single-family zones.

APN

2124-003-042

Lot size

17,641 sqft · 0.40 acres

Use code

0510

Year built

1978

Allowed units under current zoning

22

Last sale

5/8/1996 · —

Hold period

30 years

Assessed value (tax roll — often far below market)

$1,318,102

Est. market value (last sale unwound × ZIP home-value index)

$3,609,021

Owner occupied

No — absentee

Owner mailing address

Location calibration: Zillow Research home-value and rent indexes (ZHVI/ZORI, ZIP level). Value estimates are modeled from public records — not appraisals or listing prices.