Rule set

LR2

Units

15 (cap 16)

Stories

6

FAR

2.90

Buildable SF

16,239

Net sellable / rentable SF

13,316

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): 17 units · 7 stories · FAR 3.25 · RLV $8,561,350. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$17,580,313

Total development cost

$8,999,423

Required profit

$1,349,913

Residual land value

$7,209,100

Max land per unit

$480,607

Acquisition basis

$875,057

Spread over basis

$6,334,043

• 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

2261-029-020

Lot size

5,600 sqft · 0.13 acres

Use code

0100

Year built

1961

Allowed units under current zoning

1

Last sale

12/13/2022 · —

Hold period

4 years

Assessed value (tax roll — often far below market)

$945,872

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

$875,057

Owner occupied

Yes

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.