Alabama Street — The Friend Compound Field Guide
Alabama Street
Type
Three New Duplex Townhomes
Regulatory Approach
SB 684
City
San Francisco (San Francisco)
Financial Overview
- Total Cost: $7.1m
- Number of Homes: 3
- Cost per Home: $2.4m
- Timeline: 22 months
Site Plans
Before
After
Development Approach
This compound used the following regulatory approach to develop the homes shown.
Qualified for SB684 Multifamily Development
This property qualifies for up to 4 primary units on subdivided parcels with potential ADUs.
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: 2 months
- Construction: 10 months
Total Duration: 22 months (~1.8 years)
Financials
Total Project Cost
- Total: $7,074,248
- 3 new units · 7,500 new sq ft
- Acquisition: 31%
- Soft Costs: 11%
- Hard Costs: 58%
| Category | Cost |
|---|---|
| Acquisition | $2,163,000 |
| Soft Costs | $777,653 |
| Hard Costs | $4,133,595 |
Unit Economics
- # of original homes: 0
- # of new homes: 3
- Total homes: 3
- # of new sq ft: 7,500
| Metric | Value |
|---|---|
| Total sq ft | 7,500 |
| Per Home Cost | $2.36M |
| Per Sq Ft Cost | $943 |
Total Financing Estimate
- Acquisition Loan (80%): $1.68M
- Construction Loan (65%): $3.19M
- Cash at Close: $483K
- Cash During Build: $1.72M
- Total Cash Needed: $2.20M
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