Developed in a community undergoing revitalization, this ground-up 16 unit townhome development provided buyers with modern conveniences, access to mass transportation and many nightlife amenities. This project spearheaded neighborhood change with new development on a previously vacant lot and demolition of a dilapidated structure. The all brick construction and architecturally appealing design made the development of interest to many prospective purchasers. This project was completed when financing was tight, and the hold time was longer than expected. However through creative deal making, ultimately a 36% return on investment was made over the course of the project.
- Aquisition Price: $605,000
- Amount Invested: $3,595,000
- Total Investment: $4,100,000
- Sale Price / Value: $5,680,000
- Profit: $1,480,000
- Total Return on Investment: 36%