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Stone and Stryder work on Accessory dwelling units continues. Here we share our work on converting a garage to an ADU at 1424 Valencia St.
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As owner's representative we provided a comprehensive range of services for the project, including a feasibility study, financial underwriting, project planning, design management, permitting and approvals, contracting, financial management, construction management, and closeout.
The building, originally constructed in 1906, comprised three stories and 12 existing studio units. The total rentable square footage was 5,669 square feet, with an average unit size of 472 square feet. The first floor featured a garage with four parking spaces, a storage area, a trash room, a laundry room, and the building's mechanical systems.
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For the construction of the ADUs, the project involved repurposing the garage and storage areas. Within the 2,700 square foot area, three new 1-bedroom and 1-bathroom ADUs were developed. This resulted in total new rentable square feet of 1,853, with an average unit size of 618 square feet.
The project encountered several challenges, such as relocating leased parking spaces, coordinating the design of the ADUs with the soft story improvements, and excavating more than 2 feet below the existing grade to achieve additional ceiling height. The excavation necessitated significant shoring and underpinning of the existing foundation. Additionally, the execution was complicated by the relocation and upgrade of the building's main electrical panel and water heaters, as well as significant relocation of gas, water, sewer, and electrical conduit in the garage ceiling.
The addition of the three new units increased the building's unit density by 25%. Based on a 5% stabilized cap rate, this created a net increase in the building's value of over $650,000.
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