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749-square-foot San Jose ADU condo sells for $530K; first-of-its-kind for CA
ABC7 Bay Area • • business
Key Points:
- Daniel Aflakian purchased California's first accessory dwelling unit (ADU) sold as a separately owned condominium in San Jose, marking a new approach to homeownership in the city.
- The 749-square-foot, two-bedroom ADU sold for $530,000 and offers separate utilities and privacy similar to a single-family home.
- San Jose, one of the most expensive housing markets in the U.S., is using innovative policies like ADU condominium conversions under Assembly Bill 1033 to create more affordable homeownership options.
- City officials report one other ADU condominium has been approved, with two more applications under review, signaling a potential expansion of this housing model.
- Aflakian expressed hope that this new path will help more people access affordable homeownership and expects others to follow his lead.
