# Floribunda Avenue

**Type**  
Six New Single-Family Homes

**Regulatory Approach**  
SB 684

**City**  
Burlingame (Peninsula)

**Total Cost**  
$8.2m  
**# of Homes**  
6  
**Cost per home**  
$1.4m  
**Timeline**  
25 months

**Before**

**After**

## 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 8 primary units on subdivided parcels with potential ADUs.

**Show Details**

**Other potential development scenarios**  
✓

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

**Show Details**

### Not Applicable: SB9  
SB9 does not apply: not single-family zoned.

**Show Details**

### Not Applicable: SB1123 Small-Lot  
SB1123 does not apply: not single-family zoned, property is not vacant.

**Show Details**

## Timeline

| Activity        | Duration  |
|----------------|-----------|
| Design         | 3 months  |
| Permitting     | 8 months  |
| Site Work      | 3 months  |
| Construction    | 11 months |
| **Total Duration**| **25 months (~2.1 years)** |

## Financials

**Total Project Cost**  
$8,212,093  
6 new units · 10,104 new sf

**Acquisition**  
19%  
**Soft Costs**  
9%  
**Hard Costs**  
72%

| Category        | Amount      |
|----------------|-------------|
| Acquisition     | $1,539,850 |
| Soft Costs      | $777,963   |
| Hard Costs      | $5,894,280 |

### Unit Economics

| Description             | Original Property | Build New Homes | 
|-------------------------|------------------|-----------------|
| # of original homes     | 0                | # of new homes   | 6 |
| Total homes             | 6                | Total sq ft      | 10,104 |
| Per Home                | N/A              | Per Home         | $1.37M |
| Per Sq Ft              | N/A               | Per Sq Ft      | $813  |

**Total**  
$8.21M

## Financing Estimate

| Type                     | Amount      |
|--------------------------|-------------|
| Acquisition Loan (80%)    | $1.20M     |
| Construction Loan (65%)   | $4.34M     |
| Cash at Close             | $344K      |
| Cash During Build         | $2.34M     |
| **Total Cash Needed**   | **$2.68M**  |

## Want to build something like this?

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