32 unit apartment building development

5 Replies

Hey all, I am looking to partner with an experienced developer or investor on a 32 unit apartment building development. I have a 1.1 acre lot zoned R2 in the city of Highland/San Bernardino area and approved to build 32 unit by the city. The lot is in the middle of single-family homes and apartments on both sides in an up and coming area. 

Our company mainly focuses on single-family flips and rentals. However, we have this lot and want to develop it! 

Thanks for any introductions! 

Originally posted by @Jace Perry :

Where in LA is it located? Can you post more information such as demographics etc?

Sorry, I made the edits. 

The lot is in the city of Highland in the San Bernardino area. 

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Originally posted by @Jace Perry :

How many other apartment complexes are within a 1-3-5 mile radius of your lot? Have you done research on if your market needs another complex?

Sorry, not sure how many complexes are within a 1-3-5 mile radius and no research on my part yet. 

I secured the lot, I have a builder, and can raise the money. When my team reached out to the city, the city planner confirmed they will give big credits and incentives for new apartments and asked how they could help...So, sounds good right lol 

There are SFRs on the left and a 40 unit apartment complex on the right. The owner has already asked us to buy our lot to build more apartments... So, more good news right? lol

But this is why I want to work with an experienced investor that has done this before. 

If I can gift wrap a deal to an investor and learn at the same time I feel like that would be a win-win for all.

I can bring 2 out of the 3 things needed to do the deal minus the knowledge part.

Please don't get me wrong, I am not opposed to doing the research, I just didn't want to waste time trying to research stuff I have no idea about. I have a crazy laser-focused schedule and want to rely on an experienced expert. 

Once I connect with someone that is interested and has a ton of experience, TRUST ME, I will research the heck out of their recommendations etc. 

Hope that makes sense and thank you again for your response. 

Are you currently developing any multi-unit apartments or have done so in the past? 

I would love to chat offline if so.