Pleasant Hill Road

Type
A New Single-Family Home and Two New ADUs with an Existing Primary Home

Regulatory Approach
SB9 with lot split

City
Sebastopol (North Bay)

Total Cost
$4.2m

# of Homes
4

Cost per home
$1.0m

Timeline
21 months

Before

After

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

Design
2 months
Permitting
8 months
Site Work
2 months
Construction
9 months
Month 0
Month 21
Design 2 months
Permitting 8 months
Site Work 2 months
Construction 9 months
Total Duration
21 months

Total Duration:
21 months (~1.8 years)

Financials

Total Project Cost
$4,155,625

4 new units · 4,500 new sf
Acquisition
24%
Soft Costs
7%
Hard Costs
69%

Acquisition ▾ $1,004,250
Soft Costs ▾ $273,875
Hard Costs ▾ $2,877,500

Unit Economics

• Original Property

  • Acquisition only

• Build New Homes

  • Soft + hard costs

• All-In Total project

# of original homes
1
# of new homes
3
Total homes
4

Per Home
$1.00M
Per Home
$1.05M
Per Home
$1.04M

# of original sq ft
5,502
# of new sq ft
4,500
Total sq ft
10,002

Per Sq Ft
$183
Per Sq Ft
$700
Per Sq Ft
$415

Total
$1.00M
Total
$3.15M
Total
$4.16M

Financing Estimate

• Acquisition Loan (80%)
  $780K
• Construction Loan (65%)
  $2.05M
• Cash at Close
  $224K
• Cash During Build
  $1.10M
• Total Cash Needed
  $1.33M

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