A property owner in Emeryville came to New Avenue with the goal of adding an additional housing unit to increase his rental income. The existing property included two residential units in the main building, and the owner wasn’t sure whether he should add a unit over the driveway, add on to the existing home, or build a detached cottage.
After meeting with a New Avenue partner architect and receiving the architect’s professional opinion, the owner decided to put his new housing unit over the property’s garage. The new unit includes a kitchen, a bedroom, and a bathroom. In addition to the unit construction, the owner opted to re-work the property’s landscaping and alter the driveway.
The total cost for design was $14,000, which included permitting as well as design. The total cost for construction was $310,524.
This owner was wise to add a new unit for rental income. Once the project is complete, he’ll be able to rent it out and will have it paid off in just a few years.