# La Goma Street

## Type
A New ADU and Existing Primary Home

## Regulatory Approach
ADU

## City
Mill Valley (North Bay)

## Total Cost
$3.2m

## Number of Homes
2

## Cost per Home
$1.6m

## Timeline
10 months

### Before

Click to enlarge

### After

Click to enlarge

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

### 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
| Task         | Duration  |
|--------------|-----------|
| Design       | 1 month   |
| Permitting   | 3 months  |
| Site Work    | 1 month   |
| Construction  | 5 months  |
| Total Duration| 10 months |

## Financials

### Total Project Cost
$3,180,039

### Unit Breakdown
- 2 new units
- 659 new sf

### Cost Breakdown
| Cost Type      | Percentage |
|----------------|------------|
| Acquisition     | 81%        |
| Soft Costs      | 3%         |
| Hard Costs      | 16%        |

| Category          | Amount      |
|-------------------|-------------|
| Acquisition        | $2,575,000  |
| Soft Costs         | $96,402     |
| Hard Costs         | $508,638    |

### Unit Economics
| Description           | Value   |
|----------------------|---------|
| # of original homes   | 1       |
| # of new homes       | 1       |
| Total homes          | 2       |
| Total sq ft         | 2,865   |
| Per Home Acquisition | $2.58M  |
| Per Home Build       | $605K   |
| Total Project        | $3.18M  |

### Financing Estimate
| Type                      | Amount  |
|--------------------------|---------|
| Acquisition Loan (80%)   | $2.00M  |
| Construction Loan (65%)  | $393K   |
| Cash at Close            | $575K   |
| Cash During Build        | $212K   |
| Total Cash Needed        | $787K   |

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