Rule set

LR2

Units

15 (cap 16)

Stories

6

FAR

2.90

Buildable SF

15,583

Net sellable / rentable SF

12,778

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): 16 units · 7 stories · FAR 3.25 · RLV $7,230,299. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$17,103,340

Total development cost

$8,661,642

Required profit

$1,299,246

Residual land value

$7,123,103

Max land per unit

$474,874

Acquisition basis

$773,945

Spread over basis

$6,349,158

• 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 "R3-1" is not a single-family district — SB 9 applies only to single-family zones.

APN

4251-001-005

Lot size

5,374 sqft · 0.12 acres

Use code

0300

Year built

1934

Allowed units under current zoning

7

Last sale

5/29/1987 · —

Hold period

39 years

Assessed value (tax roll — often far below market)

$400,200

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

$773,945

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.