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Siobhan Brosnan
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Wholesale Land for Development

Siobhan Brosnan
Posted Feb 15 2019, 12:36

Hey guys!  

Working with a seller as a wholesaler, and I'm looking to make an offer on his property and subsequently shop it to developers. It consists of the following:

Existing building with 4, One bed apartments and 1100sf commercial, Off street parking

Existing building (tear down, use footprint) with plans and pre approved proposals for a 17 unit, 3 story apartment building

Lot for 18 parking spaces.

In approval process and in abour $16k to engineers for plans, permits etc.

This is a high foot and vehicle traffic in an up and coming neighborhood with a lot of development in the area.

Potential Rent Roll of $26K monthly with room for ancillary income.

Can someone guide me on how to appropriately price this deal? Residual Land Value??