Sixth Avenue

Type

Six New Single-Family Homes

Regulatory Approach

SB 684

City

Menlo Park (Peninsula)

$8.7mTotal Cost

6# of Homes

$1.4mCost per home

23 monthsTimeline

The transformation

11,813 sq ft lot

Development Approach

This compound used the following regulatory approach to develop the homes shown.

Selected

✓

Qualified for SB684 Multifamily Development

This property qualifies for up to 10 primary units on subdivided parcels with potential ADUs.

Other potential development scenarios

—

Not Applicable: ADU

This property requires an existing primary home for ADU development.

—

Not Applicable: SB9

SB9 does not apply: not single-family zoned.

—

Not Applicable: SB1123 Small-Lot

SB1123 does not apply: not single-family zoned.

Timeline

Design3 months

Permitting8 months

Site Work2 months

Construction10 months

Month 0Month 23

Design3 months

Permitting8 months

Site Work2 months

Construction10 months

Total Duration23 months

Total Duration:23 months(~1.9 years)

Financials

Total Project Cost

$8,676,809

6 new units · 10,857 new sf

Acquisition18%

Soft Costs10%

Hard Costs72%

Unit Economics

Original Property

Acquisition only

Build New Homes

Soft + hard costs

All-In

Total project

# of original homes

# of new homes

Total homes

Per Home

N/A

Per Home

$1.18M

Per Home

$1.45M

# of original sq ft

# of new sq ft

10,857

Total sq ft

10,857

Per Sq Ft

N/A

Per Sq Ft

$654

Per Sq Ft

$799

Total

$1.58M

Total

$7.10M

Total

$8.68M

Financing Estimate

Acquisition Loan (80%)

$1.22M

Construction Loan (65%)

$4.62M

Cash at Close

$352K

Cash During Build

$2.49M

Total Cash Needed

$2.84M

Want to build something like this?

Share your goals and we'll figure out next steps.

Get started

More Compounds

Six New Single-Family Homes

Floribunda Avenue

A New Single-Family Home and Two New ADUs with an Existing Primary Home

Pleasant Hill Road

View all CompoundsExplore every listing in the field guideSee all listings