California’s first-ever ADU condominium conversion, a historic milestone made possible by AB 1033

AlphaX RE Capital, in partnership with the City of San José and Mayor Matt Mahan, is proud to announce the completion of California’s first-ever Accessory Dwelling Unit (ADU) condominium conversion, a historic milestone made possible by AB 1033.    

For the first time in state history, an ADU can now be sold separately from its main residence, creating a groundbreaking pathway to more affordable homeownership. San José was the first city in California to adopt AB 1033, setting a bold precedent for other municipalities to follow.    

With this change, Founder & CEO Stephanie Yi shares that AlphaX can deliver ownership opportunities at more attainable price points, helping families build equity, stability, and a future.    

This milestone builds on AlphaX’s track record of pioneering housing solutions in California:   

• First ADU condominium conversion in the state (San José, August 2025)   

• Our own first AB 684 approval in Campbell (August 2025)   

• We had our first SB 9 lot split approval in the state (Atherton, 2022)    

As Chief Asset Manager Jia Li notes, being a pioneer means solving challenges head-on—unlocking opportunities for both communities and investors. Echoing this, Chief Investment Officer Jane Lin emphasizes that ADU condo conversions are just one of many solutions AlphaX is advancing to address California’s housing shortage.    

Looking ahead, we plan to complete 86 ADU condominiums over the next year, expanding affordable homeownership across the state.    

We thank the local and state leaders whose vision and policy leadership made this possible. Every home matters, and together, we are creating pathways to homeownership for more California families.