SB 1211 for 32-unit apartment in Thousand Oaks
Own a 32-unit apartment in Thousand Oaks? SB 1211 lets you stack 16 new units on top of your existing 32: 8 detached + 8 interior. At Thousand Oaks's median rent of $2,700/mo, that's ~$518K in additional gross annual rent.
The Thousand Oaks scenario
Picture the typical case: a 32-unit 32-unit apartment on a Thousand Oaks block built between 1955 and 1975, with surface parking that hasn't been fully utilized in years. SB 1211 turns that parking into 8 detached units plus 8 interior conversions — 16 new doors that didn't exist before 2024.
Thousand Oaks-specific note: Hillside ordinances on some lots.
Large multifamily (10+ unit) design playbook
A 32-unit complex is capped at 8 detached ADUs by statute, so the play shifts toward interior conversions: max(1, ⌊units × 25%⌋) = 8 additional units carved from common rooms, oversized lobbies, basement storage, or laundry rooms.
Pro-forma snapshot
| Existing units | 32 |
| Detached ADUs (SB 1211) | 8 |
| Interior conversions | 8 |
| Total new units | 16 |
| Median 1BR rent in Thousand Oaks | $2,700/mo |
| Est. additional gross rent | $518K/yr |
| Estimated total project cost | ~$3,226K |
| Year-1 NOI estimate | ~$389K |
| Stabilized cap rate at cost | 12.1% |
| Replacement parking required | No (§66313) |
| Approval pathway | Ministerial · §66314 |
| Typical permit timeline in Thousand Oaks | 75-120 days |
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