New
Building
sample report
Analysis of the property's maximum development potential based on the planning regulations
1756-1758 Union St.
San Francisco CA
This is a Multi-Family Residential property (Flats & Duplex) with 3 units on a lot of 3,711 ft2. It has a total of 2 stories (3 levels), 15 rooms, 3 bathrooms.
Presented by:
Development Potential
Possible New Building
~ 15,386 sqft
Est. Value Added
~ $ 13,837,400
February 9th, 2023
Summary
Possible
New Building Area
~ 15,386 sqft
More Living Spaces
Based on the current zoning regulations, this property may have additional units. This means more living space for you, your family and possible tenants.
10 Primary Units
+ unlimited ADUs
More Home Equity
The difference between the cost of improvement and the market value gives more value to the property.
~ $ 13,837,400
More Passive Income
Rental units are a great way to pay back the initial investment and to generate passive income. Check the Budget tab to see the average rents in the area.
$38,400 - $76,000/year
Building Area
This area is the Maximum building size on this lot. Below is a breakdown of the area for each new building level.
TOTAL New Building
~ 15,386 sqft
Existing Building
- sqft
Existing levels
-
Existing units
-
Existing ADU
-
New Building
15,386 sqft
Max. levels
5
Max. units
10
ADU max. size
1,000 sqft
LEVEL 1 (new)
Floor area
2,575
sqft
LEVEL 2 - 4 (new)
Floor area
2,592
sqft
LEVEL 5 (new)
Floor area
2,460
sqft
* The calculation of the existing and new building area in this Report are just estimates based on our interpretation of the current Planning Code, policies, and the State Law. Verify it with the local planner, architect and/or a surveyor. CityStructure Group Inc disclaims any representation or warranties as to the accuracy of the presented information.
Budget
The cost of a construction project depends on the conditions of the existing house, the site and the type of spaces you want to build. Below are only rough estimates.
COST of the improvements
~ $ 8,207,580
NEW VALUE
of the property after improvements*
~ $ 13,837,400
HARD COSTS (construction) = $ 7,743,000
Building new area
~ $ 500.00
/sqft
$ 7,693,000
Remodel existing house
-
/sqft
-
Demo / site work
-
/sqft
$ 50,000
New roof
-
/sqft
-
SOFT COSTS (services) = $ 464,580
Professional fees
~ 5
%
$ 387,150
Permit Fees
~ 1.00
%
$ 77,430
Avg. rents/unit in the area
1 Bd. + 1 Ba
~ $ 38,400 / year
3 Bd. + 1 Ba
~ $ 68,400 / year
2 Bd. + 1 Ba
~ $ 54,000 / year
3 Bd. + 2 Ba
~ $ 72,000 / year
* Consult your Realtor for a more accurate estimate of the new property value and rents in the area
Financing
Your lending options depend widely on your financial context and ownership status to this property. Considering the scope of the work, these are the most commune loan options:
FHA 203(k) loan
An FHA 203k loan is a mortgage loan that allows you to purchase a property needing repairs or renovations and include the costs in the mortgage. With a 203k, borrowers must complete renovations within 6 months of closing. Read more ...
Home Construction Loan
Construction loans are short-term, interim loans used for new home construction. The contractor receives disbursements as work progresses. Read more ...
Home Equity Loan
Borrowing against the equity in your home is a cheaper way to finance renovations than putting the cost on a credit card, whether you choose a home equity loan or a HELOC. One drawback is that both types of loans require you to pay closing costs and fees similar to a traditional mortgage. Read more ...
* CityStructure Group Inc doesn't back up any of the lenders. This information is presented just for your convenience. We encourage you to do your own research.
Team
Construction projects follow few Phases: Schematic or Design, Permit and Construction Phase. Below is a list of professionals you may need to help you complete each Phase for this type of project. Need referrals?
Schedule 30min.
FREE phone consultation
Order your Report for only $199
Available for: San Francisco county, San Mateo county , Contra Costa county , Alameda county, Redwood city, San Bruno city, San Jose city, San Pablo city, Marin county and San Diego County. This report is available for residential properties a lot up to 7,000 sqft. We have available Complete Development Packages for commercial and over 7,001 sqft properties.
Code References
The calculations of the possible new additions to the existing building on this property are based on the state and local planning regulations applicable to this lot.
Read below few of the regulations we followed in this analysis.
Zoning: RH-3 (RESIDENTIAL- HOUSE, THREE FAMILY)
Three-Family District. These Districts have many similarities to RH-2 Districts, but structures with three units are common in addition to one-family and two-family houses. The predominant form is large flats rather than apartments, with lots 25 feet wide, a fine or moderate scale and separate entrances for each unit. Building styles tend to be varied but complementary to one another. Outdoor space is available at ground level, and also on decks and balconies for individual units. Nonresidential uses are more common in these areas than in RH-2 Districts. Read more about Residential Zoning Regulations in San Francisco here ...
Dwelling Unit Density Exception is a new ordinance issued in San Francisco that allows 4 units and 6 units for corner lots on all residential (RH) lots if the project follows certain restrictions. Learn more about Dwelling Unit Density Exception ordinance here...
Height Restrictions: 55-X
Height of a dwelling cannot exceed 55 feet.
ADU: Eligible
Accessory Dwelling Units (ADUs), also called secondary units, in-law units, or cottages, are accessory units. Adding an ADU to your property can provide several benefits, such as providing housing for family members, simplifying your lifestyle, and increased financial flexibility. Learn more about building ADU in this article
CEQA: Type B - Unknown historic status or “Not evaluated”
“Not evaluated” properties or which have a temporary designation NRSC/CHRSC of 7 while waiting for evaluation from the State Office of Historic Preservation need additional investigation to determine the underlying information / evidence regarding its historic status. Read more here...
Order your Report for only $199
Available for: San Francisco county, San Mateo county , Contra Costa county , Alameda county, Redwood city, San Bruno city, San Jose city, San Pablo city, Marin county and San Diego county. This report is available for residential properties a lot up to 7,000 sqft. We have available Complete Development Packages for commercial and over 7,001 sqft properties.