Daniel Aflakian recently purchased what city officials say is California's first accessory dwelling unit, or ADU, to be sold as a separately owned condominium on an existing residential property.
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The 749-square-foot, two-bedroom unit in San Jose sold for $530,000. Aflakian moved into the home two days before speaking with ABC7.
"I knew there are some rules that were changing to be able to make some affordable housing around and I found the first one," Aflakian said.
San Jose is one of the most expensive housing markets in the country. According to Redfin, 66% of a person's income is needed to afford a home at the median sale price in the city, the fourth-highest rate in the nation.
Aflakian said the ADU provides many of the benefits of a single-family home.
"Similar to single-family because water, electrical, everything is separate. You don't have any neighbor attached to your unit," he said.
When asked whether he was still getting everything he needed out of an ADU, Aflakian replied, "I believe so."
The sale follows the property's conversion into what city officials described as the first ADU condominium conversion in California under Assembly Bill 1033.
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In a statement, San Jose Mayor Matt Mahan said the city is using new approaches to expand homeownership opportunities.
"We're unlocking homeownership opportunities at lower price points, one ADU at a time," Mahan said. "We're not waiting for costs to come down - we're using innovative policies to create affordability wherever we can."
City officials said one other ADU has been approved as a condominium, while two more applications are under review.
Aflakian said he hopes the process will help more people become homeowners.
"It will help people who want to own a place that's more affordable and more easy to work and get a home," he said. Asked whether he hoped others would follow in his footsteps, Aflakian said, "Yeah, I'm sure I'm not the last."