Build 12 townhouse (6) duplexes on .9 Acre lot
Each townhouse duplex will have two 3/2 1700 sq ft units. (rendering attached)
Lot under contract for $675,000 Budget
Build cost $2,652,000
Close to I 95 and just a 3.5 miles from downtown West Palm Beach directly out Okeechobee only about 5 minutes from the airport.
Great neighborhood with Starbucks, Publix, Car Wash, all within a few minutes local comps for duplexes that range from $413,000/$319 Sq Ft to $400K $267 sq ft (only 1500 sq ft so $453,000) (I have several comps) All are only 1300 Sq Feet and further west. New Construction, also further west $435,000 at
*Much more east than the majority of comps.
All 12 units will be
- Carbon Neutral
- Include solar panels
- A 12 month building process to completion
- Electric car charger
- impact windows
- Rent rolls will exceed $430,000+ year.
- Lot cost $675,000
- Build Cost $2,750,000
- Forecast sale $6.5M (based on sq ft)/Forecasted sale $5.4M based on 6.5% CAP rate
- Approximate NOI $215,000++
- Build is green, energy efficient, includes impact windows, car chargers and solar panels.
$150,000 in Green tax rebates are transferrable to investors! *Inquire within
Mr. Lewis’s experience in the real estate and financial services industry spans more than 25 years. He excels at consistently turning raw land with little to no perceivable value into a multi-family profit center. His accomplishments include over $55 Million in residential properties flipped and $22 Million in commercial/multi-family properties built or flipped. He’s well-versed in real estate finance and what it takes to develop a successful, profitable project. Bolstered by a degree in Manufacturing Engineering and 25 years in sales and marketing.
Mr. Lewis received his BBS in Manufacturing Engineering from California University of Pennsylvania in addition to completing coursework in Finance business Florida Atlantic University in Boca Raton, Florida. He is also fully licensed in Florida, where he holds a Real Estate License and passed the Florida Contractors Exam.
Mr. Smith is a highly accomplished General Contractor with significant knowledge and experience in Multi Family construction. In addition, he is very experienced in all facets of energy conservation. Mr. Smith has long pioneered sustainable resource technology. His 30 years of experience in the building trades in Florida have given him a breadth of experience throughout all phases of construction, and his passion for environmental stewardship has guided him in practical applications prioritizing building health.
Mr. Smith’s emphasis on sustainability and building health position him as an invaluable local reference for progressive building techniques.
Mr. Smith has an AS degree in Environmental Technologies from the University of Southern Maine and completed coursework at Boden College in Sustainable Earth Sciences. He currently holds Florida General Contractor License (18 years), Roofing License, and Solar licenses as well as LEED Certified by the US Green Building Council.
Tevon Coney is not your average professional athlete. With a degree in Philosophy and Business Economics from the prestigious University of Notre Dame, he’s not only excelled on the field but also in the world of entrepreneurship and real estate investment.
Tevon’s life purpose is driven by a passion for making a positive impact in underserved communities. He believes in the power of providing shelter and creating opportunities for those in need.
Through his journey as an entrepreneur and investor, Tevon Coney is on a mission to transform lives by bridging the gap and providing quality housing solutions where they are needed most. Join him in his mission to make a difference, one home at a time.