Rule set

LR2

Units

16 (cap 16)

Stories

6

FAR

2.54

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): 20 units · 7 stories · FAR 3.25 · RLV $3,967,736. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$13,767,416

Total development cost

$9,221,768

Required profit

$1,383,265

Residual land value

$3,137,511

Max land per unit

$196,094

Acquisition basis

$994,881

Spread over basis

$2,142,630

• 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 "R-3" is not a single-family district — SB 9 applies only to single-family zones.

APN

2445-003-024

Lot size

6,524 sqft · 0.15 acres

Use code

0200

Year built

1944

Allowed units under current zoning

4

Last sale

3/8/2021 · —

Hold period

5 years

Assessed value (tax roll — often far below market)

$920,066

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

$994,881

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.