# Sixth Avenue

## Type
Six New Single-Family Homes

## Regulatory Approach
SB 684

## City
Menlo Park (Peninsula)

## Financial Overview
- **Total Cost:** $8.7m
- **# of Homes:** 6
- **Cost per home:** $1.4m
- **Timeline:** 23 months

### Before

### After

## Development Approach
This compound used the regulatory approach outlined below:

### Qualified for SB684 Multifamily Development
This property qualifies for up to 2 primary units on subdivided parcels with potential ADUs.

### 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
| Activity      | Duration    |
|---------------|-------------|
| Design        | 3 months    |
| Permitting    | 8 months    |
| Site Work     | 2 months    |
| Construction   | 10 months   |
| **Total Duration**  | **23 months** |

## Financials
**Total Project Cost**: $8,676,809

- **New units:** 6  
- **New square footage:** 10,857 sq ft  
- **Acquisition:** 18%  
- **Soft Costs:** 10%  
- **Hard Costs:** 72%

### Cost Breakdown
| Cost Type      | Amount     |
|----------------|------------|
| Acquisition     | $1,575,900 |
| Soft Costs      | $866,937   |
| Hard Costs      | $6,233,973 |

### Unit Economics
| Category             | Original Property | Build New Homes  |
|----------------------|------------------|------------------|
| # of original homes   | 0                | # of new homes : 6 |
| Total Homes          | 6                |                  |
| Per Home             | N/A              | $1.18M           |
| Per Home (All-In)   | N/A              | $1.45M           |
| # of original sq ft  | 0                | # of new sq ft : 10,857 |
| Total sq ft         | 10,857           |                  |
| Per Sq Ft           | N/A              | $654             |
| Total                | $1.58M          | $7.10M           |
| **Grand 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

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