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
 

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