** LAND FOR SALE ** $325,000 ** 15 Apartments Design Included ** - CAP RATE 13%





***** LAND FOR SALE ******* Money Back Guarantee Included in the sale: Architectural design to built 15 studios for rent with a CAP RATE of 13% ( see feasibility below ) Buyer's payment goes to an scrow account until buyer gets the site plan approved with the authorities. Money back to buyer if the project is not approved. Total investment is around $1,291,925.00 ( construction, land, blueprints and permitts are included ) Market value of the project after construction is : $3,132,363.64 These are estimated, and value can change according to market conditions. The lot is less than 10 minutes away from the beach, near shopping and dining, Daytona Beach International Airport, I-95, Hwy A1A, Daytona State College and Bethune Cookman University. It's also near highly-rated schools including Spruce Creek High and Tomoka Elementary. The following is a detail of the final cost and profit of the project 1- PROJECT: New construction - Studio apartments 2- TOTAL UNITS: 15 3- AREA OF EACH UNIT: 371 sqft ( include common areas) 4- TOTAL AREA TO BUILD: 6032 sqft 5- COST PER EACH SQFT OF CONSTRUCTION: $145 6- COST OF THE WHOLE BUILDING: $806,925.00 7- COST OF THE LAND: $325,000 ( 25.16% of the total cost of the project 8- COST OF BUILDING PERMITS WITH THE CITY OF DAYTONA AND VOLUSIA COUNTY: $160,000 (approx.) 9- TOTAL COST OF PROJECT : $1,291,925.00 10- DAILY RENT PER UNIT ( RB&B): $95.00 - ( The average daily price of a studio in Daytona Beach is $141.) 11- % DE OCUPANCY ( "physical ocupancy") FOR A RB&B STUDIO IN DAYTONA IS: 56% 12 - TOTAL MONTHLY INCOME FOR RENT 15 UNITS: $23,940.00 13- GROSS SCHEDULE INCOME o GSI : $287,280.00 14- OPERATING EXPENSES (including cost of management company): $115,000 / year (40% of GSI) 15- NOI ( net operating income) : $172,280.00 16- CAP RATE: 13.34% 17- COST PER DOOR : $86,128.33 18- MARKET CAP : 5.5% ( new construction) 19- MARKET VALUE OF THE PROPERTY WITH UNITS RENTED: $3,132,363.64 20- PROFIT AFTER SELLING THE PROJECT TO AN INVESTOR : $1,840,438.64 PLEASE CONTACT : JIMMY 786-942-6494

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