Rule set

LR2

Units

16 (cap 16)

Stories

6

FAR

2.90

Buildable SF

17,210

Net sellable / rentable SF

14,112

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): 18 units · 7 stories · FAR 3.25 · RLV $2,406,862. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$12,964,822

Total development cost

$9,540,319

Required profit

$1,431,048

Residual land value

$1,969,174

Max land per unit

$123,073

Acquisition basis

$971,241

Spread over basis

$997,933

• 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 "RD1.5-1" is not a single-family district — SB 9 applies only to single-family zones.

APN

2246-008-011

Lot size

5,935 sqft · 0.14 acres

Use code

0300

Year built

1948

Allowed units under current zoning

4

Last sale

9/18/2024 · —

Hold period

2 years

Assessed value (tax roll — often far below market)

$1,022,556

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

$971,241

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.