NORTH HILLS GARAGE CONVERSION ADU
Homeowners converted the attached garage to a beautiful ADU for rental income! We love the meandering walkway that leads to the front door, which is on the opposite side of the propoerty as the main house front door, creating privacy. triple french doors let in a lot of light and expand depth of vision to outdoor patio. The owners are looking into the l.a. accelerator program!
Type
ADU Garage Conversion
location
North Hills
size
432sf; 1 BR/1BA
Features
· Electrical main panel upgrade
· Separate electrical metering
· Higher end tankless water heater
· Triple French doors along living room wall
· Peninsula with bar seating
· Upgraded finishes
· Tile in bathroom and kitchen
· Pendant lighting
· Washer/dryer in bathroom
project cost
Construction Total: $105,562
Cost per sq ft: $244/sf
Necessary Change Orders: $3,832 (3.65%)
Optional Change Orders: $3,975 (3.77%)
rent and noi analysis
$1,700 Average Rent
- $609 PITI (@3.5% interest)
= $1,091 Monthly Net Income (NOI)
financial return on investment
Annual NOI w/financing: $13,092
5 Year NOI w/ financing: $65,461*
10 Year NOI w/ financing: $130,922*
Years to breakeven (Annual Rent/Total Cost): 5 years*
*Does not consider annual rent increases
“We love our ADU!!!! [My wife] teases me because I spend a lot of time there. She’s afraid that I’ll be taking it over rather than renting it.”
