Rule set

LR2

Units

16 (cap 16)

Stories

6

FAR

1.83

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): 28 units · 7 stories · FAR 3.25 · RLV $873,735. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$11,072,500

Total development cost

$9,205,888

Required profit

$1,380,883

Residual land value

$478,301

Max land per unit

$29,894

Acquisition basis

$297,138

Spread over basis

$181,163

• 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

Eligibility

Urban lot split + duplexes

Maximum units

4 (2 lots × 2 units)

APN

2127-017-025

Lot size

9,039 sqft · 0.21 acres

Use code

010V

Year built

—

Allowed units under current zoning

1

Last sale

12/2/2024 · —

Hold period

2 years

Assessed value (tax roll — often far below market)

$297,138

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.