Fifteenth Avenue — The Friend Compound Field Guide
Fifteenth Avenue
Type
New Duplex
Regulatory Approach
SB 684
City
San Francisco (San Francisco)
$4.4m Total Cost
2 # of Homes
$2.2m Cost per home
21 months Timeline
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 4 primary units on subdivided parcels with potential ADUs.
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Other potential development scenarios
✓
Qualified for an ADU
This property qualifies for a new detached ADU.
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—
Not Applicable: SB9
SB9 does not apply: not single-family zoned.
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—
Not Applicable: SB1123 Small-Lot
SB1123 does not apply: not single-family zoned, property is not vacant.
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Timeline
Design 2 months
Permitting 8 months
Site Work 1 month
Construction 10 months
Month 0 Month 21
Design 2 months
Permitting 8 months
Site Work 1 month
Construction 10 months
Total Duration 21 months
Total Duration: 21 months (~1.8 years)
Financials
Total Project Cost
$4,419,362
2 new units · 5,000 new sf
Acquisition 30%
Soft Costs 7%
Hard Costs 62%
Acquisition ▾ $1,339,000 Soft Costs ▾ $324,632 Hard Costs ▾ $2,755,730
Unit Economics
Original Property
Acquisition only
Build New Homes
Soft + hard costs
All-In
Total project
of original homes
0
of new homes
2
Total homes
2
Per Home
N/A
Per Home
$1.54M
Per Home
$2.21M
of original sq ft
0
of new sq ft
5,000
Total sq ft
5,000
Per Sq Ft
N/A
Per Sq Ft
$616
Per Sq Ft
$884
Total
$1.34M
Total
$3.08M
Total
$4.42M
Financing Estimate
Acquisition Loan (80%)
$1.04M
Construction Loan (65%)
$2.00M
Cash at Close
$299K
Cash During Build
$1.08M
Total Cash Needed
$1.38M
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