THE SAMO IV

The property is being offered at a purchase price of $1,850,000, with an estimated soft and hard cost of approximately $2,600,000 to complete the development, equating to around $260 per square foot. An additional carry cost of $450,000 is projected to cover interest reserves throughout the build.

Once completed, the estimated value of the project ranges between $7,500,000 and $8,000,000 if sold as Tenants in Common (TIC), or $6,500,000 to $7,000,000 if retained as traditional apartment units. The entire project, including planning and construction, is anticipated to take 15 to 18 months.

For investors, the internal rate of return (IRR) is particularly attractive, with estimated returns of 64% to 88% over an 18-month exit period under the TIC model, or 48% to 64% if the property is sold as apartment units.