South Fort Worth Apartments - New Construction - 230 unit apartments
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Description
Class A apartments in a desirable part of Southern Fort Worth. Averages rents for Class A in this area is $1.15/sqft per month. The profits below do not include the cashflow being earned starting in month 14-16. The plan is to get the apartment to 92% occupancy and then exit at a 5.5% CAP.
The Numbers (Projections)
- ROI - 77.40%
- IRR - 38.70%
- Net Profit - $5,907,000
- Sale Price - $35,400,000
- Land Price - $1,000,000
- Development Cost - $24,440,000
- Soft Cost - $2,035,200
- Selling Cost - $2,017,800
- Total Cash Invested - $7,632,000
- Time (months) - 24
Interested in this deal?
Call Brandt Barham at 469-531-4131.