Rule set

LR2

Units

12 (cap 16)

Stories

6

FAR

2.90

Buildable SF

12,858

Net sellable / rentable SF

10,543

Average unit SF

850

Affordable set-aside

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

Full SB 79 envelope (post-July 2026 timing): 17 units · 9 stories · FAR 4.00 · RLV -$539,287. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$8,768,491

Total development cost

$7,136,117

Required profit

$1,070,418

Residual land value

$554,750

Max land per unit

$46,229

Acquisition basis

$288,262

Spread over basis

$266,488

• 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 "C4-1" is not a single-family district — SB 9 applies only to single-family zones.
• ✕ General Plan land use "commercial" is not residential.

APN

2337-025-004

Lot size

4,434 sqft · 0.10 acres

Use code

0100

Year built

1941

Allowed units under current zoning

1

Last sale

10/16/2024 · —

Hold period

2 years

Assessed value (tax roll — often far below market)

$311,367

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

$288,262

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.