Next Steps for Property Development Project in San Diego

[Aaron Friberg]

Hello All, 

We own a large lot in Hillcrest that currently has 4 units(1 building). Next step is to develop the property, but need to figure out whether it's better to add a couple ADUs or tear down and put up an apartment complex/condos, etc (my guess is property is currently zoned for 12 units). An architect has offered to run through the zoning for the property, advise how many units could feasibly be built, tell us how many ADUs can be built, etc., and run through a projected cost benefit analysis of the different options. Cost for that service would be $5k. Question for the BP community (and specifically for folks with development experience or larger projects like this) - does this seem like a reasonable next step to you? If not, any other suggestions as we navigate cost/benefit analysis of how to proceed with the development? We've done several fix and flips, but nothing to this magnitude from a development perspective, so trying to think through best next steps. Thanks in advance for any suggestions. 

Would also be open to partnering with an experienced developer in SD of similar projects if it makes sense. 

Aaron