This project involved a 7,000 square foot vacant lot that was successfully entitled for 8 units. By leveraging ADU (Accessory Dwelling Unit) regulations, the team maximized the potential of two vacant lots. The land was acquired for $420,000 in February 2021 and later sold for an impressive $1,050,000 in July 2022, showcasing a significant return on investment.

• 7,000sf vacant lot → (8) units

• Utilized ADU regulations to maximize and use of two vacant lots

• Purchased land for $420,000 in February 2021 and sold for $1,050,000 in July 2022 with entitlements. It is now built. Credit for the build goes to the Reditus Fund.

This development project took a single family home through a complete gut-rehab while permitting 3 ADUs. We then converted the garage into a 1/1 ADU and (2) 1/1 detached ADUs in the backyard. This (4) unit project resulted in almost $700,000 in equity created.

• Single Family Home → (4) Units

• Purchased for $770,000, all-in cost $1,500,000, Valuation $2,200,000