Rule set

LR1

Units

5 (cap 11)

Stories

4

FAR

1.80

Buildable SF

5,629

Net sellable / rentable SF

4,615

Average unit SF

850

Affordable set-aside

1 units · 1 Moderate-Income unit

Full SB 79 envelope (post-July 2026 timing): 9 units · 7 stories · FAR 3.25 · RLV -$996,699. Which envelope controls depends on when an application is deemed complete — confirm with counsel.

Exit strategy

Rent & hold

Gross development value

$2,875,641

Stabilized NOI

$130,842

Total development cost

$2,753,146

Required profit

$412,972

Residual land value

-$294,215

Max land per unit

-$58,843

Acquisition basis

$149,549

Spread over basis

-$443,764

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 "C2-1VL-CPIO" is not a single-family district — SB 9 applies only to single-family zones.
• ✕ General Plan land use "commercial" is not residential.

APN

6039-008-019

Lot size

3,127 sqft · 0.07 acres

Use code

1100

Year built

1965

Allowed units under current zoning

1

Last sale

5/17/1984 · —

Hold period

42 years

Assessed value (tax roll — often far below market)

$72,461

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

$149,549

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.