Wholesale Project,San Diego,CA 180* Ocean View W/ Approved Plans
Project Proposal - 4435 Algeciras St.
Prepared for: Investors, Developers, End Users
Prepared by: Bear Scharbarth, Vice President
June 8, 2016
Proposal number: 4435
EXECUTIVE SUMMARY
Objective
The plan for this project is to take a once beautiful beach home that was built in 1960, located a block and a half off the beach of Sunset Cliffs, and turn it into a magnificent piece of art. The current house is 2435 SQFT., 4 bedroom, 3 full baths and a 2 car garage, with ocean views off the north side of the house. The house is a single story and has run its course in the neighborhood. The little Azure Subdivision in which it is located in, is being upgraded on just about every street. Nearly every owner or developer is going up. Panoramic, 180 degree oceans views and 3rd story decks are the name of the game.
Goal
The goal is to turn this old beach house into a beautifully designed masterpiece created by Alex Faulkner Designs out of Del Mar, Ca. He has been able to produce a house that is modern on the outside and a truly open-aired wonder on the inside. The single level house will become 4 bedroom, 3.5 bathroom with an additional bonus room and bed/bath upstairs on the second story. The project will go from 2,435 to 3,566 SQFT., adding an additional 1131 SQFT. The second story features a massive 17.5' sliding pocket door that opens up to an incredible entertaining deck that overlooks the beautiful sunsets of the Pacific Ocean. While out on the 2nd story deck, you might as well take the journey up the spiral staircase to the 3rd story viewing deck surrounded by a gorgeous stainless steel cable railing. This allows you to see as far south and as far north as the eye can see, while having your favorite libations with a great group of friends or family. The dining/living room will have an 14' pocket sliding door that opens up to the beautiful lower deck with fire pit and bbq, along with a custom designed drought tolerant low maintenance backyard. The kitchen is a work of art. Our interior designer, Emily Renze, from B St. Design, has put together a home that is more than pleasing to the eye, modern blended with a beachy contemporary feel. She has designed every aspect of the home, appliances, cabinet layout, light fixtures, paint, flooring, granite, etc. The house will come with a catalog put together by Emily and her company, which has full color pictures, pricing and location to procure the items or materials. The end user and or developer/investor just has to purchase and have it installed. Also, Emily and Alex are available to help whoever may buy the project to alter it to their specific liking or taste. If you decide you would like to move some walls or add some more features, Mark Eatmon owner/GC and working foreman of ROI Builders can build whatever you imagine. Mark has also provided us with a hard bid that can be used to build this project. We have gone through many contractors and subs, and Mark has proved himself time and time again to be the most efficient, most reliable and most honest general contractor we have used through the years. If you are not the developer who is going to do the job yourself, then I would highly recommend using Mark at ROI Builders to get this job completed on time.
Current Status
The current status of the project is that the house has been fully demoed on the inside and out. It is literally a giant shell as of now. You can see from the front door to the garage door, and from floor to ceiling. All the landscaping and concrete have been removed on the exterior as well. The home is completely free of trash and debris and is ready for hammers to start tearing off the roof and moving walls.
The architectural and structural plans for the house have been approved by the city as of June 6,2016. Final steps- assign house over to buyer through escrow, pay for permits, get your crew or contractor and get the project underway.
Property Assignment
Estimated Sale is 2.45 -2.65m - Projected Sale Price $2,550,000
Approved Plans & Interior Exterior Design Included - Assignment Price $1,575,000
Contractor and Bid Included - Construction $595,000
7 Month Build, 9 Month Cost Projection - All Fees $165,400
Investor Profit $214,600
ROI 9.8%
AROI 13.08%
Estimated Transaction Fee’s for the $165,400
Taxes - $17,000
Insurance $13,600
Closing Costs $12,750
Commission $114,750
Staging $5500
Holding Costs $1800
Conclusion
Thank you for taking the time to read and analyze our prospectus of this outstanding project. If you have any questions please don’t hesitate to ask. We are able to be contacted anytime of the day or night via phone or email. Please see our contact information below. Thank you again and look forward to doing business with you.
Coast To Desert Properties, LLC
Bear Scharbarth - VP
Cell - 760.522.2338
Fax - 760.814.2614
Coast To Desert Properties, LLC
Cory Siemon - Advisory Board Member
Cell - 757-286-5905
Fax - 760.814.2614