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Surfside Project 1

Surfside Project 1

Surfside, FL 33154

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Bedrooms

5
|

Bathrooms

5
|

Area

3950 image/svg+xml
Description

This property is located in the town of Surfside, FL, a beautiful oceanfront community in South Florida. Surfside has an attractive residential neighborhood and is located close by to its charming business district. The home was built in 1946 and is currently undergoing a completely new construction while incorporating key architectural concepts such as simplicity, efficient design, and purposeful materials. Once new construction is complete the property will be 4,050 square feet in total, with 6 bedrooms and 4 and a half baths. Also will include a one car garage, pool, and an outdoor living room and kitchen area. This contemporary home seamlessly blends into the surrounding neighborhood which is quaint and modest. The house is appropriately sized in the front yard to achieve the feel of the existing neighborhood but slowly starts to increase in size towards the rear in order to maximize the lot potential. The various volumes are highlighted with differentiating textures and highlighted with ornate trim and molding. The result of this design gives the impression of an ever-changing dynamic structure.

Equity
$590,794 (86%) Invested
$682,750

Expected Return

-18.41%

Total Project Est.cost

$3,392,000

Timeframe: 12 Months

Months to completion: -17 Months

Development Loan
$0 (0%)
$2,554,250

Expected Return

9.25%

Equity Min Investment $10000 | Development Loan Min Investment $10000

Learn more about the purchase process
Project Summary
Property Acquisition

Property purchased for $1,400,000. We hit the ground running. The permitting process is already completed.

Permitting and Demolition

Permits were received and demolition and site prep begins. This phase is completed.

Development

Property type is a complete new construction of the house. Development costs are estimated at about $1,700,000. This phase is ongoing.

This contemporary home seamlessly blends into the surrounding neighborhood which is quaint and modest. The house is appropriately sized in the front yard to achieve the feel of the existing neighborhood but slowly starts to increase in size towards the rear in order to maximize the lot potential. The various volumes are highlighted with differentiating textures and highlighted with ornate trim and molding. The result of this design gives the impression of an ever-changing dynamic structure.

 

Finishing Trades and Building Completion

All major construction is done. Finishing details and craftmanship begins. Appliances and utilities are checked and connected. Final inspections are done and the site cleanup is carried out.

Marketing and Sale

Marketing materials, are ready from prior to completion. We may give customers an opportunity to request certain custom finishes.

The property is prepared and staged for sale. After what we hope is a competitive bidding process, the sale is finalized and closed. Investors are paid out in full.

Final Annual financial Highlights
Equity
Final sale value ?
$0
Acquisitions costs ?
$0
Final total development cost ?
$0
Interest ?
$0
other costs ?
$0
Net profit ?
$0
Avg Annualized Investor Return ?
0.00%
Est. Annual financial Highlights
Equity Development loan
Est. Final sale value ?
$4,195,000
Est. Acquisitions costs ?
$1,250,000
Est. total development cost ?
$1,755,000
Est. Interest ?
$195,000
Est. Other costs ?
$293,000
Est. Net profit ?
$552,000
Est. annualized equity investment return ?
0.00%
fixed annual interest rate ?
9.25%
senior secured by project property ?
$2,554,250
property lowest point value ?
$1,000,000
est avg value in project timeline ?
$1,931,250
Est.final property value ?
$4,195,000
Project
start
1

month

Property Aquisition
4

month

Permitting and Demolition
6

month

Site Preparation and Development Start
9

month

Development Completed
12

month

Closing Sale
Project
end
Initial Investment? $0

Est. Immediate Costs will become known during the transaction process when the inspection report comes in.

total return ?
$552,000
Appreciation?
6%
%
Hist 20 yr. Hist 1 yr. Hist 5 yr. Custom
Project Costs and Valuation Rental Projections
Land Acquisition
$1,250,000
Plans and Permits
$105,000
Development
$1,500,000
Construction Management
$150,000
Closing Costs
$251,000
Loan Costs
$42,000
Platform Fee
$150,000
Est. Development Loan Interest
$195,000
Total Costs
$3
Final Est. Property Value
$4,195,000
Equity Valuation:
Estimated Return Annualized
40.42475283778836%
Return on Equity Investment
40%
Estimated Annualized Return
on Development Loan
9.25%
Year 1 Year 3 Year 5 Year 10
Est. Gross Rent
$209,750
Property Management
$20,975
Property Tax
$80,544
Maintenance Costs
$10,488
Other
$2,098
Revenue Subtotal
Loan Interest
Net Rental Income
Est. Annualized ROI for Equity ?
Est. Annualized CAP RATE on Equity ?