Design District Lucas Residence
Multifamily
Marketing description
Plans ready and submitted to the city for the top of the line luxury Lucas Residence, a 2,400 SF, 5 bedroom (flexible used as 6)/4.5 bath house, designed by the Urban Group
PROPOSAL: Teardown existing property and build the Lucas Residence for $1.4M (total cost, 2,400 SF x $240 = ~$575K + $740K acquisition/project cost), turning ~$400K in equity (~70% LTV) into $2M~$2.5M, a rent generating property with a ~13% CAP and a ~22% Cash on Cash (assuming rents similar to equivalent property across the street and others in the area, ask listing agent for financial analysis)
Investment highlights
Included with the property plans ready already submitted to the city to build luxury 3 floor Triplex (ask broker for details, financial analysis and additional documentation), with 2 3,600 SF under AC 3 bedrooms, and one 1,550 SF 2 bedrooms TownHouses, a futuristic masterpiece. We want to guarantee this will be the most sought after property in Airbnb in the area to maximize RevPAR. Designed By Andres Hausmann in conjunction with Vivian Dembo.
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