Rule set

LR1

Units

6 (cap 11)

Stories

4

FAR

1.80

Buildable SF

6,805

Net sellable / rentable SF

5,580

Average unit SF

850

Affordable set-aside

1 units · 1 Moderate-Income unit

Full SB 79 envelope (post-July 2026 timing): 11 units · 7 stories · FAR 3.25 · RLV -$1,434,811. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Rent & hold

Gross development value

$3,523,761

Stabilized NOI

$160,331

Total development cost

$3,321,061

Required profit

$498,159

Residual land value

-$308,990

Max land per unit

-$51,498

Acquisition basis

$541,253

Spread over basis

-$850,243

Yield on cost

5.32%

Exit cap rate

4.55%

⚠ Negative leverage at current debt rates — yield on cost is below the exit cap rate.

• 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! Flagged
• Not RSO-registered✓ Pass
• SCAG and city maps agree! Flagged

• ✕ Zone "[VN1-CR1-4][RG2-8][CPIO]" is not a single-family district — SB 9 applies only to single-family zones.

APN

5174-006-041

Lot size

3,780 sqft · 0.09 acres

Use code

0500

Year built

1926

Allowed units under current zoning

3

Last sale

4/5/2006 · —

Hold period

20 years

Assessed value (tax roll — often far below market)

$452,031

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

$541,253

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.