|
Examples of Projects Being Pursued
| Income Producing,
(Residential)
|
20 single family homes, located in a working class area of Philadelphia are available at an average price of $53,000 each. All properties are fully rented, with tenants responsible for all utilities, and may need only minor repair. Current income and expenses will generate a cash on cash return of over 25% per year during the holding period and each property can be sold individually for an estimated $63,000 each.
|
Income Producing/
Value Added Upgrade,
(Multifamily) |
A six family apartment building located in a solid area of Brooklyn, NY near a large hospital has been mismanaged by the current owners and is available at foreclosure pricing. The property is available for $450,000 and requires $25,000 in upgrades and $25,000 in carrying costs while the property is stabilized. The building is worth $550,000 today and once stabilized could fetch $600,000.
|
Renovation,
(Mixed Use)
|
A vacant three story, mixed use shell is available on a corner lot on a secondary commercial strip in Far Rockaway, NY. The building is available for $800,000 and requires $400,000 in renovations. When complete the building is worth 1.8M.
|
Ground-up
Development,
(Residential)
|
Two large vacant lots, located on the edge of a “hot” section Philly are available. Homes in the area are selling for roughly $400,000. Both lots together could accommodate over 20 two family townhouses. The total average cost to both acquire each lot and build a house is roughly $300,000
|
|
|
