Reditus Fund
Phone:
619-848-6776
3460 Harding Street Carlsbad, CA 92008
This property is currently a single-family home on an 8,797 square foot lot located in Carlsbad, west of Highway 5. The project is expected to scrape the existing structure, add six two bed two bath 1,100 sqft row homes with garages, and two one bed one bath 640 sqft ADUs. Being so close to the beach, shops, and park, this community has a high demand for rentals.
| Purchase Date | Sept 21 |
|---|---|
| Anticipated Hold Time | 12-18 Months |
| Original Units | 1 |
| Units Added | 8 |
| Purchase Price | $1,300,000 |
| Renovation Cost | $2,594,000 |
| Entitlement Cost | $180,000 |
| Carry Cost + Reserves | $352,193 |
| Cap Rate on Cost | 7.31% |
| Total Cost on Project | $4,246,193 |
| Return on Cost | 45.28% |
| Expected Sale Price | $6,200,000 |
| Anticipated Fund Profit* | $976,903 |
*Profits split with Operating Partner