Wildwood Drive — The Friend Compound Field Guide
Wildwood Drive
Type
A Single-Family Home and Two New ADUs with an Existing Primary Home
Regulatory Approach
SB9 with lot split
City
San Mateo (Peninsula)
Total Cost
$6.5m
# of Homes
4
Cost per home
$1.6m
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.
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
| Phase | Duration |
|---|---|
| Design | 2 months |
| Permitting | 8 months |
| Site Work | 2 months |
| Construction | 9 months |
| Total Duration | 21 months |
Financials
Total Project Cost
$6,504,886
Acquisition Breakdown
- Acquisition: 45%
- Soft Costs: 5%
- Hard Costs: 50%
- Acquisition: $2,899,450
- Soft Costs: $322,436
- Hard Costs: $3,283,000
Unit Economics
| Description | Value |
|---|---|
| # of original homes | 1 |
| # of new homes | 3 |
| Total homes | 4 |
| Per Home (Original) | $2.90M |
| Per Home (New) | $1.20M |
| Per Home (All-In) | $1.63M |
| # of original sq ft | 3,289 |
| # of new sq ft | 5,200 |
| Total sq ft | 8,489 |
| Per Sq Ft (Original) | $882 |
| Per Sq Ft (New) | $693 |
| Per Sq Ft (Combined) | $766 |
| Total Cost (Combined) | $6.50M |
Financing Estimate
- Acquisition Loan (80%): $2.25M
- Construction Loan (65%): $2.34M
- Cash at Close: $647K
- Cash During Build: $1.26M
- Total Cash Needed: $1.91M
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