5702 Gloucester Opportunity Presentation
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Transcript of 5702 Gloucester Opportunity Presentation
![Page 1: 5702 Gloucester Opportunity Presentation](https://reader038.fdocuments.in/reader038/viewer/2022110200/55c1e563bb61ebab7e8b4693/html5/thumbnails/1.jpg)
5702 GLOUCESTER AUSTIN, TX 78723PRESENTED BY INNER 10 CAPITAL
WWW.INNER10CAPITAL.COM
![Page 2: 5702 Gloucester Opportunity Presentation](https://reader038.fdocuments.in/reader038/viewer/2022110200/55c1e563bb61ebab7e8b4693/html5/thumbnails/2.jpg)
PROPERTY MAP
This property is a residential area of 78723 on Gloucester Rd near the Mueller development.Property in question is outlined in red.
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PROPERTY MAP
The lot is large enough to support a duplex and there is an existing duplex home already on the lot. This will save us some water tap fees!
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PROPERTY VISION
There is room to build a duplex with over 1750sqft per side plus a one car garage per unit.
This is a conceptual design sketch for what the property might look like.
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PROPERTY SIZE AND PLAN
This property is one 11600 sqft lot
It is zoned SF-3
The exit goal for this property is to build a 3500 sqft duplex condo and sell both sides.
Build a total of 2 doors at 1750 sqft each.
A portion of this lot *is* in the floodplain
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PROPERTY SIZE AND PLAN
This is the current layout of the lot
There is a 25 year and 100 year floodplain on the lot
Despite this feature, the lot is large and we can build outside of that plain
Our designer has met with the city and the flood and tree issues can be built around
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NEARBY COMPS
1 active new construction listing nearby
Average pending $/sqft within 1.0 miles is $227/sqft
Solds even with actives
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NEARBY COMPS
These listings match the ones on the map in the previous slide
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SCHEDULE ESTIMATION
March, 2015 – Complete due diligence and feasibility - COMPLETE
April, 2015 – Complete fund raising
May, 2015 – Get demo permit, complete designs, close land, submit building permit
July, 2015 – Permits in hand, start construction
March, 2016 – Complete construction
May, 2016 – Close sale of all units
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RISKS
Tree or watershed issues prevent building what we want This lot is in the flood plain near the back of the lot which will remove about 20% of the
usable land space
Permitting prevents building what we want or extends schedule The original house was built in 1964 so it is not likely to be flagged for historic review
Housing prices drop There is a lot of margin, our cost basis is $591,000
Debt not available