Highland Avenue — The Friend Compound Field Guide
Highland Avenue
Type
Two New Single-Family Homes and an Existing Primary Home
Regulatory Approach
SB 684
City
San Mateo (Peninsula)
Total Cost
$3.5m
Number of Homes
3
Cost per Home
$1.2m
Timeline
21 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.
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
| Stage | Duration |
|---|---|
| Design | 2 months |
| Permitting | 8 months |
| Site Work | 1 month |
| Construction | 10 months |
| Total Duration | 21 months |
Financials
Total Project Cost
$3,529,787
- 3 new units · 2,708 new sf
- Acquisition 45%
- Soft Costs 8%
- Hard Costs 47%
| Cost Component | Amount |
|---|---|
| Acquisition | $1,596,500 |
| Soft Costs | $274,507 |
| Hard Costs | $1,658,780 |
Unit Economics
Original Property
of original homes: 1
of new homes: 2
- Total homes: 3
- Per Home: $1.60M
Build New Homes
- Per Home: $1.18M
| Amount | |
|---|---|
| # of original sq ft | 2,286 |
| # of new sq ft | 2,708 |
| Total sq ft | 4,994 |
Financing Estimate
- Acquisition Loan (80%): $1.24M
- Construction Loan (65%): $1.26M
- Cash at Close: $357K
- Cash During Build: $677K
- Total Cash Needed: $1.03M
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