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2979 Gilma Dr

Hilltop/Fairmede · Richmond

2979 Gilma Dr

Style

Single Family Residence

Zoning

RL2

Year built

1955

Existing

3 bd · 2 ba

Interior

1,652 sf

Lot size

5,059 sf

$849,000

For Sale

Development Scenarios

Here's how you can use existing housing laws to add more housing units to this property. For illustrative purposes only, as actual site conditions should be verified in person.

ADU

Add 1 potential unit to the backyard
$260K-$367K estimated cost
$224K-$447K future value add

Single-Family Homes and ADUs on Separate Lots

Add 1 potential unit
$488K estimated cost
$644K future value add
Loading infill model...

Density level

Density controls will appear after the model finishes loading.

Generating the lot configuration for this scenario and density...

Financials

These estimates model the potential development economics for this scenario using local construction costs and comparable sale prices. They're provided for illustrative purposes only and aren't financial advice.

Selected ScenarioADU
Estimated Project Cost
$1,134,742
ADU scenario · 1 new unit · 370 new sf
Build Cost / SF
$
ADU build cost$260,272
23% of project cost
Property acquisition$874,470
77% of project cost
Estimated Project Value (2 Year)
$1,072,678
$1,056,051 1-year project value ·
-5.5% total ROI
-$62,064 potential ROI
Added scenario value$223,678
21% of completed value
Current property value$849,000
79% of completed value
Acquisition77%
Soft Costs5%
Hard Costs18%
Value Projections
Today list price$849,000
24-month added value$223,678
24-month project value$1,072,678
Potential ROI-$62,064
Assumptions
Current sale / sf$514
Average sale / sf$518
Annual growth8.0%
Comp bedrooms3
Comp radius5 miles
Price / sf sourceAverage sold comps
Added sqft370 sf
Cost Breakdown

Unit Economics
Original Property
Acquisition only
Build New Homes
Soft + hard costs
All-In
Total project
# of original homes
N/A
# of new homes
1
Total homes
1
Per Home
N/A
Per Home
$260K
Per Home
$1.13M
# of original sq ft
1,652
# of new sq ft
370
Total sq ft
2,022
Per Sq Ft
N/A
Per Sq Ft
$703
Per Sq Ft
$561
Total
$874K
Total
$260K
Total
$1.13M
Financing Estimate
Construction Loan

Estimate construction proceeds, cash required, and interest-only payments.

Construction Estimate
Loan Proceeds
Construction basis
Soft + hard costs
$260K
Loan proceeds
65% loan-to-cost
$169K
Cash required
Unfinanced development cost
$91K
Monthly payment
Interest-only estimate
$2K

Timeline

Typical project phasing based on the selected scenario, density, and generated development scope.

Estimated Total Duration

11 months

ADU

Design

Concept design, site planning, and early coordination.

1 month

Month 1

Permitting

Planning review, entitlement approvals, and building permits.

3 months

Month 2 - Month 4

Site Work

Utility coordination, grading, and site preparation.

2 months

Month 5 - Month 6

Construction

Vertical construction through final inspection.

5 months

Month 7 - Month 11

Property Overview

MLS: bridgeMLS

Property information from bridgeMLS

Listed by Cielo Fuentes · Keenan Howard Realty, Inc.

bridgeMLS © 2026. Information Deemed Reliable but not Guaranteed. This information is being provided by bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at June 22, 2026 at 1:22 AM PDT.

Location

Data from Type Five
Jurisdiction
Richmond
Zoning
RL2
Overlay Districts
None
Climate Zone
Zone 3
Transit Access (1/2 mi)
Yes (Shane Dr & Gilma Dr)

Natural Hazards

Data from Type Five
Flood Zone
X
Liquefaction Risk
No
Landslide Risk
No
Fault Zone
No

Fire Risk

Data from Type Five
Fire Hazard Zone
NOT IN A VHFHSV
Fire Responsibility
LRA
Wildfire Protection Req.
No
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2979 Gilma Dr, Richmond Infill Potential — Infillworks