Development Score™: 100 / 100
Dwelling designated as a Single Family Residential unit on a lot of 4,865 sqft. It has 1 story, 5 rooms, 2 bathrooms. Property has a total as-built area of 5,212 sqft of which 1,984 sqft is the conditioned area assessed for property taxes. (Source: County Assessor's Office)
This Development Analysis™ is based solely on source data and planning regulations. CityStructure recommends that it is corroborated with an on-site survey.
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Terms & Conditions
Based on current zoning regulations, this property may have additional units. This means more living space for you, your family and tenants.
* See Zoning Code Reference for details
The market value of the improvement adds more equity to this property which could be used towards refinancing or towards a Home Equity Line of Credit to finance other purchases.
* Consult your Realtor for a more accurate estimate
Renting your property is a great way to pay back the initial investment and to generate passive income. See Costs and Income section for average rents in the area.
* Consult your Realtor for a more accurate estimate
Existing Construction | New Construction | |
Lot Area | 4,865 sqft | 4,865 sqft |
Floor Area | 1,336 sqft | 4,008 sqft (unit size ideas) |
Conditioned Area | 1,984 sqft | 4,121 sqft (how we calculate) |
Levels | 1 | 3 |
Units | 2 | Up to 10 Units + 1 ADU |
ADU | n/a | See ADU Analysis |
Existing Construction | New Construction | |
Level | Floor Area | Floor Area |
3 | 1,336 sqft | |
2 | 1,336 sqft | |
1 | 1,336 sqft | 1,336 sqft |
* The building areas in this Report are just estimates based on CityStructure's interpretation of the data received from 3rd party vendors, current Planning Code, policies and 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. |
Calculations of possible new additions to the existing building on this property are based on the state and local planning regulations applicable to this lot.
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Zoning Overlay
No residential development or expansion of an existing Residential Building is permitted in the Corona Heights Large Residence Special Use District that would result in any Dwelling Unit exceeding 3,000 square feet of Gross Floor Area, except where the total increase of gross floor area of any existing Dwelling Unit is less than 15%.
The purpose is to protect and enhance existing neighborhood character, encourage new infill housing at compatible densities and scale, and provide for thorough assessment of proposed large-scale residences that could adversely impact the area and affordable housing opportunities.
All lots zoned RH within the Central Neighborhoods Large Residence Special Use District, no residential development or expansion of an existing Residential Building is permitted that would result in any Dwelling Unit exceeding 3,000 square feet of Gross Floor Area, except where the total increase of gross floor area of any existing Dwelling Unit is less than 15%.
The purpose is to protect and enhance existing neighborhood character, encourage new infill housing at compatible densities and scale, and provide for thorough assessment of proposed large-scale residences that could adversely impact the area and affordable housing opportunities.
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CEQA Information
Greater Projects on a parcel with an average slope of at least 25 percent and include any of the following: (1) New building construction, except one-story storage or utility occupancy, (2) horizontal additions, if the footprint area increases more than 50%, or (3) horizontal and vertical additions increase more than 500 square feet of new projected roof area.
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Bonus Overlay
Senate Bill 684 + Senate Bill 1123 (Ministerial permitting process)
This bill would require a local agency to ministerially consider, without discretionary review or a hearing, a housing project that proposes a subdivision that results in 10 or fewer parcels or a development project of 10 or fewer residential units. The maximum parcel size that can be divided is no larger than 5 acres and it is substantially surrounded by qualified urban uses. The properties eligible for SB-684 have to be located on a lot zoned for multifamily residential development. The bill would exempt the housing development project from certain requirements relating to minimum parcel size and dimensions and the formation of a homeowners’ association, except as specified in SB-684.
If divided, the newly created parcels are no smaller than 600 square feet and the average total area of floorspace for the proposed housing units on the lot proposed to be subdivided does not exceed 1,750 net habitable square feet.
SB-1123, expands SB-684, to vacant lots zoned for single-family residential development. The newly created parcels are no smaller than 1,200 square feet. The bill would, notwithstanding the prohibition related to physical preclusion, authorize a local agency to impose a specified height limit on a lot that is vacant and zoned for single-family residential development.
Read more about SB-684 in Zoning Academy
Family and Senior Housing Opportunity Special Use District (Ministerial permitting process)
Incentivizes the development of multifamily housing in the City’s well-resourced neighborhoods. Projects that meet the eligibility criteria are exempt from residential density limits which don't include any Accessory Dwelling Units. Projects on a single Corner Lot may propose the greater of up to six dwelling units per lot or one dwelling unit per 1,000 square feet of lot area. For projects on Corner Lots that propose at least five units, or at least 15 units for a three-lot merger or at least 10 units for a two-lot merger the height limit is 65 feet.
Dwelling Unit Density Exception (Discretionary permitting process)
This property may be eligible for this Bonus. This 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. If the proposed project applies under this overlay, it'll go through a discretionary permit review. Learn more about Dwelling Unit Density Exception ordinance ..
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Permitting
The proposed project may be eligible for Ministerial Approval Processes for Mixed-Income Housing per SB-423.
A ministerial decision involves only the use of fixed or objective standards, and government agencies cannot use personal, subjective judgment in deciding whether or how the project should be carried out. Ministerial projects are not subject to environmental review under the California Environmental Quality Act (CEQA) or conditional use authorization or other similar discretionary review or entitlements under the Planning Code.
Projects filled under SB-423 covers:
Affordability: Not Required for 2-10 unit density
Labor requirements: Not Required for 2-10 unit density
Eligibility Review deadline (from submittal): 60 days
Approval deadline, including Design Review (from submittal): 90 days
Locational criteria: No demolition of a historic structure on a national, state, or local historic register; housing units that have been occupied by tenants in the last 10 years; housing subject to rent or price control; restricted affordable housing.
Read more about SB-423 in Zoning Academy
The cost for a construction project depends on the existing site conditions and the type of spaces you want to build.
HARD COSTS (construction) | ||
Build new structure | $463/sqft | $1,236,388 |
Remodel existing structure | - | - |
Demolition and site work | - | - |
TOTAL | $1,236,388 | |
* The above cost estimates are meant to be used just as a guideline. These are not construction estimates |
SOFT COSTS (services) | ||
Professional Fees | 10% | $123,639 |
Permit Fees | 5% | $61,820 |
TOTAL | $185,459 | |
* The above cost estimates are meant to be used just as a guideline. These are not construction estimates |
Avg. rents/unit in this area* | ||
Unit Size | Potential Income | |
1 Bedroom, 1 Bathroom | $42,000 / year | |
2 Bedrooms, 1 Bathroom | $54,000 / year | |
3 Bedrooms, 2 Bathrooms | $72,000 / year | |
* Consult your Realtor for a more accurate estimate of the new property value and rents in the area |
Your financing options depend widely on your financial context and ownership status for this property. Considering the scope of the work, below are the most common loan options.
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. Learn more ...
* CityStructure does not endorse any lender. This information is presented only for your convenience. We encourage you to do your own research.
Construction loans are short-term, interim loans used for new home construction. The contractor you choose to perform the work receives disbursements as work progresses. Learn more...
* CityStructure does not endorse any lender. This information is presented only for your convenience. We encourage you to do your own research.
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. Learn more...
* CityStructure does not endorse any lender. This information is presented only for your convenience. We encourage you to do your own research.
Looking for programs to help you finance this project?
Visit CalHFA website
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? Book a complimentary 30 min phone consultation so we can refer you to the right professional for your project.
Drafts Schematic Drawings and Specs.
Experienced professional that could represent/act/oversee the project to make sure that the owner's interest are met. This role is recommended but not mandatory for a project.
Land survey to locate the property lines, the existing building on site and utilities
Schematic Drawings and Specs
Permit Drawings
Permit Drawings and Specs
Construction Drawings and project management
Oversee the construction, purchase materials and hire subcontractors
To fully explore your options, our zoning specialists also recommend Development Analysis™ for ADU / Cottage if you want to:
Delivered in 2 days
To fully explore your options, our zoning specialists also recommend Development Analysis™ for Vertical Expansion if you want to:
Delivered in 2 days
To fully explore your options, our zoning specialists also recommend Development Analysis™ for Horizontal Expansion if you want to:
Delivered in 2 days
Disclaimer: All the information presented in this report was obtained from a third party provider. The selection of the presented information was made to inform our clients and general public. There is a lot more information about a property that was not included in the CityStructure Analysis. We urge everyone who wants to learn more about this property to contact the local planning department. All recommendations or comments are an interpretation of the local planning regulations. Verify all information from CityStructure Analysis with the local planer, architect and/or surveyor.
Citystructure Group, Inc. disclaims any representation or warranties as to the accuracy of the presented information. The information is provided on an "as is" basis without any warranties of any kind, including but not limited to any express warranties, statutory warranties, and any implied warranties of merchantability, fitness for a particular purpose, non infringement, or third party rights arising out of course of conduct or trade custom or usage. CityStructure's Analysis may have errors, problems, or other limitations. Citystructure Group Inc has no liability whatsoever for the use of any information presented in this document. No advice or information, whether oral or written, obtained by you from Citystructure, Group Inc. through its services shall create any warranty, representation, or guarantee of any kind.
The property Seller, the real estate Broker/Agent and any CityStructure's referral partners presenting any information from this document make no representations regarding the potential future use of the property(ies) analyzed in this document, and have not and will not research code requirements, zoning or planning issues, nor the legal or financial feasibility of any future development or re-development of this property. DO NOT purchase this property based solely on the information presented in this Analysis. The information and drawings provided in this document were all prepared by Citystructure Group, Inc.; Seller and Broker/Agent have not and will not verify information provided by Citystructure Group, Inc.
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Realtor
DRE #01402769 / DRE #01730988
(415) 302-6512
www.FourBridgesRE.com