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
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.