Page 3 - 27th Street Opportunity Zone Brochure

The Project Financials PROFORMA
Unit Mix Rents DURING Development
Soft & Hard Costs
Unit Mix Rents - Stabilized
Unit # / Type
918 27th St
922 27th St
924 27th St
La Playa
The Standard
Peppertree Craftsman
Type
Long term Long term Long term STR
STR STR
Rent
$1,300 $2,100 $1,750 $3,000 $3,000
$3,000
Est. Income Through Buildout
Entitlement: Construction: Total:
$245,225 $123,000 $368,225
Unit # / Type
Peppertree Craftsman The Standard NEW_Studios NEW_Studios (A) NEW_1 Bed (A) NEW_1 Bed
Parking Storage Concessions
Estimated Rent
$3,600 $3,600 $1,643 $1,363 $1558 $2,105 $125 $55 $150
Scheduled Income
$3,600
$3,600 $22,995 $2,726 $1,558 $14,732 $1,250 $1,210 $300
Effective Income
$3,060
$3,060 $22,535 $2,671 $1,527 $14,437 $1,250 $1,089 $300
Monthly:
$51,971
$49,929
Per Unit:
$1,999
$1,920
Yearly:
$623,646
$599,151
Estimated Land Cost
Estimated Hard & Soft Cost of Dev. Total Dev. Costs
Effective Gross Income
Planned Expenses
Net Operating Income Planned Yearly Holding Cost Estimated Income After Debt
$3,250,000
$3,965,613 $7,215,613 $599,151 $141,123 $458,029 $302,861 $155,168
$/NEWDU
$152,524 $277,524 $23,044 $5,428 $17,616 $11,648 $5,968
$/NEWSF
$314
$571
$44
$10
$33
$22
$11
Value of End Product
Yearly NOI:
Value at Market CAP Rate
$458,029
4.25%
Project Value / Cost / Profit
$10,777,149
DU Value / Cost / Profit
$414,506
CAP Rate @ Build Costs Delta (profit):
6.35% 2.10%
$7,215,613 $3,561,535
$277,524 $136,982
Estimated 10 Year Return
Cash from Operations Reduction in Capital Gains Debt Paydown
Appreciation (starting@yr 5) Development Profit (if sold) Estimated Returned
Group #2
$1,258,847 $90,000 $1,244,461 2.10% $4,840,830 $7,434,138