Rule set

LR2

Units

14 (cap 16)

Stories

6

FAR

2.90

Buildable SF

14,832

Net sellable / rentable SF

12,162

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): 16 units · 7 stories · FAR 3.25 · RLV $2,522,735. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Condo sellout

Gross development value

$11,960,372

Total development cost

$8,234,214

Required profit

$1,235,132

Residual land value

$2,448,652

Max land per unit

$174,904

Acquisition basis

$1,694,958

Spread over basis

$753,694

• 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 "C2" is not a single-family district — SB 9 applies only to single-family zones.
• ✕ General Plan land use "commercial" is not residential.

APN

5643-012-015

Lot size

5,115 sqft · 0.12 acres

Use code

1100

Year built

1947

Allowed units under current zoning

1

Last sale

6/30/2022 · —

Hold period

4 years

Assessed value (tax roll — often far below market)

$1,777,523

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

$1,694,958

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.