San Fransisco, CASTRO - Build a Townhome - Fully permitted
Hi Bigger Pockets,
I am providing an opportunity for a Flipper/Developer/Builder to build a 1090 sf two story Townhome (1 bedroom, with a 2 story living room) in the highly desirable Castro area. Here is the description of the Deal:
The owner of the lot is currently building 2 townhomes on the lot but also got the entitlements and full permits to build a 3rd 1090 sf townhome on the lot. Currently there is a old 2 car parking garage structure that will serve as the base of the new Townhome construction. The Final Map is in the process of being recorded and this Townhome will become fee simple and its separate lot.
The owner is opened to suggestions as far as how to structure the deal with the Developer. Either the Developer would buy the lot from the current owner, or could enter into a JV agreement with the owner to split the profits in which case there would be no upfront land cost. The price is negotiable so the $150,000 is not a set price but just gives a rough idea
The estimated profit for the Deal is $400,000 which then need to be split between the owner and the Developer depending on the type of structure that is chosen.
There are a few other technicalities that I would be happy to discuss.
I will be taking a commission for bringing the opportunity.
Don't hesitate to contact me!