Rule set

LR2

Units

16 (cap 16)

Stories

6

FAR

0.08

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): 623 units · 7 stories · FAR 3.25 · RLV $174,828,353. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$14,835,534

Total development cost

$10,040,169

Required profit

$1,506,025

Residual land value

$2,398,723

Max land per unit

$149,920

Acquisition basis

$35,624,672

Spread over basis

-$33,225,949

• 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

• ✕ General Plan land use "commercial" is not residential.

APN

5435-001-021

Lot size

199,011 sqft · 4.57 acres

Use code

3350

Year built

1978

Allowed units under current zoning

1

Last sale

3/22/2002 · —

Hold period

25 years

Assessed value (tax roll — often far below market)

$14,297,406

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

$35,624,672

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.