Dowling Boulevard — The Friend Compound Field Guide
Dowling Boulevard
Overview
Type
A New Single Family Home and an Existing Primary Home
Regulatory Approach
SB9 with lot split
City
San Leandro (East Bay)
Total Cost
$2.4m
# of Homes
2
Cost per home
$1.2m
Timeline
19 months
Before
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After
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Development Approach
This compound used the following regulatory approach to develop the homes shown.
Other potential development scenarios
✓
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
| Phase | Duration |
|---|---|
| Design | 2 months |
| Permitting | 8 months |
| Site Work | 1 month |
| Construction | 8 months |
| Total Duration | 19 months |
Financials
Total Project Cost
$2,381,221
2 new units · 1,750 new sf
Breakdown:
- Acquisition: 44%
- Soft Costs: 7%
- Hard Costs: 49%
| Category | Amount |
|---|---|
| Acquisition | $1,041,845 |
| Soft Costs | $162,501 |
| Hard Costs | $1,176,875 |
Unit Economics
| Metric | Value |
|---|---|
| # of original homes | 1 |
| # of new homes | 1 |
| Total homes | 2 |
| Per Home (Original) | $1.04M |
| Per Home (New) | $1.34M |
| Per Home (Total) | $1.19M |
| # of original sq ft | 1,967 |
| # of new sq ft | 1,750 |
| Total sq ft | 3,717 |
| Per Sq Ft (Original) | $530 |
| Per Sq Ft (New) | $765 |
| Per Sq Ft (Total) | $641 |
| Total (Original) | $1.04M |
| Total (New) | $1.34M |
| Total (Project) | $2.38M |
Financing Estimate
Acquisition Loan (80%)
$809K
Construction Loan (65%)
$871K
Cash at Close
$233K
Cash During Build
$469K
Total Cash Needed
$701K
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