THE culver iv

This investment opportunity begins with a purchase price of $1,150,000, complemented by estimated soft and hard construction costs totaling approximately $2,368,000, averaging about $250 per square foot. To support financing during the build, an interest reserve carry cost of $379,051 is anticipated.

Upon completion, the projected property value ranges from $6,000,000 to $6,400,000 if sold as Tenants in Common (TIC), or between $5,200,000 and $5,600,000 if held as traditional apartment units. The development timeline, including planning and construction, is estimated at 15 to 18 months.

Investors can expect a compelling internal rate of return (IRR), with an approximate 18-month exit yielding 70% to 84% IRR for a TIC sale, or 40% to 55% IRR if exited as apartment units.