SFR development Placerville, ca
HOT MARKET IN PLACERVILLE
With a $2 million minimum cash cost and $14 million + profit estimate, in a Hot market location; this is a winner for the right buyer.
The property is a shovel ready 75 SFR lot subdivision and 20K SF commercial in Placerville.
The SFR market between the Bay area and Reno is a very hot market now. So even with higher lumber costs the 2019 proforma estimating $14mm profit, if high then, is probably close or even low now.
The owner spent two decades obtaining in county approvals. But now just wants to retire and travel. His 2019 $5mm land price is still acceptable and with $2mm down, he will carry and subordinate to a construction loan or become a passive investor in a JV for the balance.
Besides the 75 approved SFR lots and 20K SF approved commercial, a added 20 not yet approved lots and 10K SF are included in the purchase price.
Moreno valley, ca
Vendaval has acquired land in Moreno Valley, CA for an Affordable Housing Development. The project is for ‘Mixed Use’ of over 429 Apartments and 120,000 Sq Ft Retail Space. The plans include Transit Stops, Bike Ride Share, Bike Paths & Storage, Walk paths, Community Park, ‘Green Buildings’, use of Renewable Materials, Street Expansion, New Signage, and a Community Center. All with the focus on assisting families in need, lowering GHGs and promoting a healthy lifestyle.
Break ground within 8 months with grading and utilities. Verticals construction within 18 months.
Possible 72 SFR
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