Thoughts on a development investment?

[Alexander Feng]

Fully entitled Venice home near Google, Snapchat, Hulu. 3b3b 2453 SQFT
We just need to do the construction.
Permits have been pulled, and foundation has been done by previous owner. He just ran out of cash.

Address is 1129 Van Buren Venice, CA 90291
I negotiated a low sales price from the seller.

25.01% return in 6 months if I can raise enough for an all cash acquisition.

1.56 Purchase Price
450k construction

Looking to sell for 2.6 after construction completed.
Market is around 1000/sqft so 2.4-2.6 sale price.