# Bay Street

**Type**  
A New Single Family Home and Two New ADUs

**Regulatory Approach**  
SB9 with no lot split

**City**  
Alameda (East Bay)

**Total Cost**  
$7.3m

**# of Homes**  
4

**Cost per home**  
$1.8m

**Timeline**  
22 months

**Before**

Click to enlarge

**After**

Click to enlarge

## Development Approach

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

**Selected**  
✓

### 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.

**Show Details**

**Other potential development scenarios**  
✓

### Qualified for an ADU  
This property qualifies for a new detached ADU.

**Show Details**

—

### Not Applicable: SB684 Multifamily  
SB684 does not apply: not multi-family zoned.

**Show Details**

—

### Not Applicable: SB1123 Small-Lot  
SB1123 does not apply: property is not vacant.

**Show Details**

## Timeline

| Phase           | Duration  |
|-----------------|-----------|
| Design          | 2 months  |
| Permitting      | 8 months  |
| Site Work       | 2 months  |
| Construction    | 10 months |

**Total Duration**  
22 months

**Total Duration:**  
22 months (~1.8 years)

## Financials

**Total Project Cost**  
$7,313,041

4 new units · 3,247 new sf

- **Acquisition**  66%  
- **Soft Costs**  4%  
- **Hard Costs**  30%

|
| Component         | Amount       |
|-------------------|--------------|
| Acquisition       | $4,841,000  |
| Soft Costs        | $303,879    |
| Hard Costs        | $2,168,163  |

### Unit Economics

**Original Property**

- **# of original homes**  1  
- **# of new homes**  3  
- **Total homes**  4

|                | Per Home    |
|----------------|-------------|
| Acquisition     | $4.84M      |
| Build New Homes | $824K       |
| All-In          | $1.83M      |

|
| Metric                  | Value      |
|-------------------------|------------|
| # of original sq ft     | 5,260      |
| # of new sq ft         | 3,247      |
| Total sq ft            | 8,507      |

|                 | Per Sq Ft   |
|-----------------|-------------|
| Total           | $920       |
| Total           | $761       |
| Total           | $860       |

| Total            | Amount       |
|------------------|--------------|
| Acquisition Loan (80%)     | $3.76M     |
| Construction Loan (65%)    | $1.61M     |
| Cash at Close             | $1.08M     |
| Cash During Build          | $865K      |
| Total Cash Needed          | $1.95M     |

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