OVERVIEW
We purchased a empty lot with multiple offers in hopes to build a 2 unit duplex (8 bedrooms 8 baths total).
- Mini Split HVAC (room-by-room control)
- Granite and Stainless Finishes
- Showers for each bathroom
- Indoor Stacked Laundry
- Waterproof flooring (no carpet)
- Drafting/Construction
- Planning Documents/Permitting
- Construction
BUDGET
120K Land
- Purchase Lot from open market
53K Softcosts
- Planning
- Permits
- Utility Fees
377K Construction
- All construction aspects done by RepairPro
- Approx 2500 sq. ft. conditioned space
ROI & OUTCOME
Before
Empty Lot
After
Unit 447 Income $30,420/year (4bed/4bath)
Unit 705 Income $30,420/year (4bed/4bath)
Gross Increase $60,840/year
Grand Total $550,000
Market Value $650,000+
11% Cash on Cash Return
18% Appreciation on Completion
Unit 447
4 bedroom unit with 4 private baths, attached to each room. Built with low maintenance durability in mind, waterproof floors, no carpet, instant hot water heaters, mini split heat/cool controller per room. This unit has a large balcony and covered porch looking over 7th street. Parking is to the left with 3+ spots and pull through to a rear driveway.
Unit 705
This unit faces chestnut street and features 4 bedrooms and 4 private on suite baths. Features match that of 447, with exception of a balcony. However this unit has a large porch over a covered gabled entrance. Parking for this unit is behind the unit.
