Rule set

LR2

Units

12 (cap 16)

Stories

6

FAR

2.90

Buildable SF

13,354

Net sellable / rentable SF

10,951

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): 14 units · 7 stories · FAR 3.25 · RLV $6,268,981. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$14,243,595

Total development cost

$7,392,019

Required profit

$1,108,803

Residual land value

$5,719,292

Max land per unit

$476,608

Acquisition basis

$939,270

Spread over basis

$4,780,022

• 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

4251-001-021

Lot size

4,605 sqft · 0.11 acres

Use code

0100

Year built

1924

Allowed units under current zoning

1

Last sale

6/8/2023 · —

Hold period

3 years

Assessed value (tax roll — often far below market)

$977,975

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

$939,270

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.