Rule set

LR1

Units

7 (cap 11)

Stories

4

FAR

1.80

Buildable SF

7,422

Net sellable / rentable SF

6,086

Average unit SF

850

Affordable set-aside

1 units · 1 Moderate-Income unit

Full SB 79 envelope (post-July 2026 timing): 15 units · 9 stories · FAR 4.00 · RLV -$685,764. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$5,147,185

Total development cost

$3,638,234

Required profit

$545,735

Residual land value

$954,508

Max land per unit

$136,358

Acquisition basis

$348,295

Spread over basis

$606,213

• 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 "R2-1XL" is not a single-family district — SB 9 applies only to single-family zones.

APN

5429-001-024

Lot size

4,123 sqft · 0.09 acres

Use code

0400

Year built

1923

Allowed units under current zoning

2

Last sale

11/6/2020 · —

Hold period

6 years

Assessed value (tax roll — often far below market)

$428,392

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

$348,295

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.