Buena Vista Avenue — The Friend Compound Field Guide
Buena Vista Avenue
Type
Two New Single Family Homes and an Existing Primary Home
Regulatory Approach
SB 684
City
Alameda (East Bay)
Total Cost
$4.0m
# of Homes
3
Cost per home
$1.3m
Timeline
20 months
Before
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After
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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.
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Other potential development scenarios
✓
Qualified for an ADU
This property qualifies for a new detached ADU.
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—
Not Applicable: SB9
SB9 does not apply: not single-family zoned.
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—
Not Applicable: SB1123 Small-Lot
SB1123 does not apply: not single-family zoned, property is not vacant.
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Timeline
Design
2 months
Permitting
8 months
Site Work
2 months
Construction
8 months
Duration
Total Duration: 20 months (~1.7 years)
Financials
Total Project Cost
$3,987,849
3 new units · 2,767 new sf
Acquisition
49%
Soft Costs
9%
Hard Costs
42%
Cost Breakdown
- Acquisition ▾ $1,957,000
- Soft Costs ▾ $340,581
- Hard Costs ▾ $1,690,268
Unit Economics
- Original Property
of original homes: 1
of new homes: 2
- Total homes: 3
- Per Home Cost: $1.96M
- Build New Homes
- Per Home Cost: $1.02M
- All-In Total Project
- Per Home: $1.33M
Size Summary
of original sq ft: 3,096
of new sq ft: 2,767
- Total sq ft: 5,863
- Per Sq Ft Cost Summary:
- Original: $632
- New: $734
- All-In: $680
Total Costs
- Original: $1.96M
- New Homes: $2.03M
- Total: $3.99M
Financing Estimate
- Acquisition Loan (80%): $1.52M
- Construction Loan (65%): $1.32M
- Cash at Close: $437K
- Cash During Build: $711K
- Total Cash Needed: $1.15M
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