How SB-423 Accelerates Coastal Development: // Faster Permitting ·For projects with 150 units or fewer: - Eligibility Review deadline: 60 days from submittal - Approval deadline, including Design Review: 90 days from submittal · For projects with more than 150 units: - Eligibility Review deadline: 90 days from submittal - Approval deadline, including Design Review: 180 days from submittal · No public hearings or environmental impact reports for qualifying projects // Smarter Development Rules · Excludes high-risk areas, like those prone to sea-level rise · Ensures projects meet affordability and public investment requirements // More Housing, Less Uncertainty · Projects stay approved if at least 50% of units are affordable and include public investment beyond tax credits · Opens up new opportunities in previously restricted areas · Clearer guidelines help developers plan with confidence

I get what they are trying to do here, preserve 2-4 unit properties and discourage deconverting to SFH. 

Another lever you can pull is marketing the units in a different way if you havent explore getting professional photos done or styling the unit further with a professional decorator.

You would need to be a bit more creative but for sure possible.In the private message sent to Adriano, I shared a commercial space that we are converting into 8 tourist units.

Investment Info:Small multi-family (2-4 units) buy & hold investment.

We wanted to self manage.How did you find this deal and how did you negotiate it?

Most investors start with 1 unit a year or so. 

Mostly MF and self storage.I bought an industrial property from a wholesaler, paid him a $600,000 fee. 

Kitchens, Appliances and relocating plumbing for revised kitchen layouts, adding in-unit laundry etc. are what generally drives these apartment renovation budgets assuming the mechanicals don't require complete upgrade or replacement. 

If you're a relatively new multifamily operator, you'll likely be required to hire a professional management company (inexperienced owners are typically not allowed to self manage the assets).