Young St — The Friend Compound Field Guide
Young St
Type
A New ADU and an Existing Primary Home
Regulatory Approach
ADU
City
San Mateo (Peninsula)
Financials
Total Cost: $2.2m
of Homes: 2
Cost per home: $1.1m
Timeline: 10 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.
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 | 1 month |
| Permitting | 3 months |
| Site Work | 1 month |
| Construction | 5 months |
| Total Duration | 10 months |
Financials
Total Project Cost
Total Project Cost: $2,166,184
2 new units · 1,000 new sq ft
- Acquisition: 62%
- Soft Costs: 5%
- Hard Costs: 33%
Breakdown
- Acquisition: $1,339,000
- Soft Costs: $109,684
- Hard Costs: $717,500
Unit Economics
| Original Property | Build New Homes | Total project | |
|---|---|---|---|
| # of original homes | 1 | 1 | 2 |
| Per Home | $1.34M | $827K | $1.08M |
| # of original sq ft | 1,963 | 1,000 | 2,963 |
| Per Sq Ft | $682 | $827 | $731 |
Financing Estimate
- Acquisition Loan (80%): $1.04M
- Construction Loan (65%): $538K
- Cash at Close: $299K
- Cash During Build: $290K
- Total Cash Needed: $589K
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