Property Type: 4 Unit Apartment Building

Location: 1845 N. Vulcan Avenue, Encinitas, CA

Original Description: We are in the process of converting it into condo and will get the permit in the next two months.

Purchase Price: 700,000

Improvements: 60,000

Investment: 

Investor Contribution:

Sale Price If Sold (Or Projected Sale Price): We have two offers of over $200K of our asking price, expected to close by September because we are finalizing the condo conversion. The return will be 3 points higher per year.

Period: 5 years

Annual Return to Investors: 29%

Sold/In Holding Period: Holding

Plan/Notes Related To The “Investment”: Convert to condos and sell.