Alaska Hard Money Deal - Active

720

1 deal

No

Valdez

Alaska

$200,000

$60,000

$400,000

$1,000,000

There is a huge demand for housing in Valdez and even the land to build housing. Currently the city of Valdez is offering $10,000 per dwelling to individuals who build a dwelling or multiple. In addition the city of Valdez is trying to offer incentives for developers to help remedy the situation.

There is a 21 acre parcel owned by the city of Valdez I would like to propose to purchase. Build a 1500 ft road, install underground power, then sell a total of ten 1.325 acre lots for $100,000 each. The whole project estimated costs at this time are $600,000.

$200,000 land purchase
$100,000 road construction costs
$100,000 underground power
$50,000 survey and soft costs

$100,000 2 years of overhead costs
$50,000 working capital

I will be keeping 2.5 acres for the business to build an office/shop once lots sell and revenue comes in.

I will also be keeping keeping additional 2 acres to build affordable rentals. Two cabins on each lot with a targeted rent of $1,600 each.

I am hoping this opens a window for future development options to keep the business moving forward.