# Carberry Avenue

## Summary

**Type**: Two New Single Family Homes and an Existing Primary Home  
**Regulatory Approach**: SB 684  
**City**: Oakland (East Bay)  
**Total Cost**: $4.1m  
**# of Homes**: 3  
**Cost per home**: $1.4m  
**Timeline**: 20 months

## Site Plans

### 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 SB684 Multifamily Development  
This property qualifies for up to 10 primary units on subdivided parcels with potential ADUs.

**Other potential development scenarios** : ✓  
### Qualified for an ADU  
This property qualifies for a new detached ADU.

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

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

## Timeline  
- **Design**: 2 months  
- **Permitting**: 8 months  
- **Site Work**: 1 month  
- **Construction**: 9 months  
- **Total Duration**: 20 months (~1.7 years)

## Financials

### Total Project Cost
- $4,111,919
- 3 new units · 3,155 new sf  
- **Acquisition**: 46%  
- **Soft Costs**: 8%  
- **Hard Costs**: 46%

#### Breakdown
- **Acquisition**: $1,882,941
- **Soft Costs**: $330,976
- **Hard Costs**: $1,898,003

### Unit Economics
- **Original Property**
 - **# of original homes**: 1  
 - **# of new homes**: 2  
 - **Total homes**: 3

#### Per Home Costs  
- **Acquisition only**: $1.88M  
- **Build New Homes**: $1.11M  
- **Soft + hard costs**: $1.37M

#### Square Footage  
- **# of original sq ft**: 6,642  
- **# of new sq ft**: 3,155  
- **Total sq ft**: 9,797

#### Per Sq Ft Costs  
- **Acquisition**: $283  
- **Build New Homes**: $706  
- **Soft + hard costs**: $420

### Total Financing Estimate
- **Acquisition Loan (80%)**: $1.46M  
- **Construction Loan (65%)**: $1.45M  
- **Cash at Close**: $420K  
- **Cash During Build**: $780K  
- **Total Cash Needed**: $1.20M

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