Wildwood Drive

Type

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

Regulatory Approach

SB9 with lot split

City

San Mateo (Peninsula)

$6.5mTotal Cost

4# of Homes

$1.6mCost per home

21 monthsTimeline

The transformation

53,690 sq ft lot

Development Approach

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

Other potential development scenarios

✓

Qualified for an ADU

This property qualifies for a new detached ADU.

✓

Qualified for SB9 Single Family Development with Optional Lot Split

This property qualifies for SB9 development and may use a lot split for 1 new primary home and up to 2 new ADUs.

—

Not Applicable: SB684 Multifamily

SB684 does not apply: not multi-family zoned.

—

Not Applicable: SB1123 Small-Lot

SB1123 does not apply: property is not vacant.

Timeline

Design2 months

Permitting8 months

Site Work2 months

Construction9 months

Month 0Month 21

Design2 months

Permitting8 months

Site Work2 months

Construction9 months

Total Duration21 months

Total Duration:21 months(~1.8 years)

Financials

Total Project Cost

$6,504,886

4 new units · 5,200 new sf

Acquisition45%

Soft Costs5%

Hard Costs50%

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

$2.90M

Per Home

$1.20M

Per Home

$1.63M

# of original sq ft

3,289

# of new sq ft

5,200

Total sq ft

8,489

Per Sq Ft

$882

Per Sq Ft

$693

Per Sq Ft

$766

Total

$2.90M

Total

$3.61M

Total

$6.50M

Financing Estimate

Acquisition Loan (80%)

$2.25M

Construction Loan (65%)

$2.34M

Cash at Close

$647K

Cash During Build

$1.26M

Total Cash Needed

$1.91M

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