# 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

Click to enlarge

### After

Click to enlarge

## 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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