Condominium Development Site for Sale
Los Angeles, California
     
This page shows financial projections for developing a 14-unit condominium building on the subject property, based on asking price of $2,100,000
Per Unit
14 Units
Land
150,000
2,100,000
Subdivision Plus Fees
6,000
84,000
Improvements
29,357
411,000
Direct Costs
175,000
2,450,000
Construction Contingency
7,000
98,000
Elevator
6,429
90,000
Soft Costs
33,571
470,000
Financing
33,929
475,000
Total
$441,286
$6,178,000
Gross Sales
585,000
8,190,000
Cost of Sales (4%)
23,400
327,600
Net Sales Proceeds
561,600
7,862,400
Net Profit
$120,314
$1,684,400

 
Improvements
Dirt Work
25,000
Concrete & Slab
350,000
Walls
36,000
Total Improvements
$411,000
% of Project
5.02%
 
Soft Costs
Architecture & Engineering
20,000
Supervision
60,000
Labor
10,000
Marketing
5,000
General & Administrative
60,000
Building Permits
90,000
HOA
15,000
Legal/Accounting
5,000
Insurance
195,000
Temp Facilities
10,000
Total Soft Costs
$470,000
% of Project
5.74%
   
Financing
Bank Interest
425,000
Points
50,000
Total Financing
475,000
% of Project
5.80%

 

All information herein is believed to be correct, but we do not guarantee its accuracy and rely on prospects to rely only on their own investigations.

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