LUXURY PROPERTY SOLUTIONS LLC is seeking a loan of $312,500-$837,500 for a new construction project in Southwest Miami, Florida. The property is located in West Perrine in Miami-Dade County. Nearby cities include Palmetto Bay, West Kendall, Coral Gables, and Coconut Grove. The loan can be collateralized. Terms can be discussed by phone on in person. Payment to lender will be 15% to 25% interest. Projected timeline of completion of construction to selling both units is six months. This loan can be fully or partially collateralized by property on which this project is being built. This lot and the existing house are worth $550,000 to $650,000 AS-IS with only a $17,000 mortgage balance remaining.
We have two options to for this project. Option 1 is to do a pre-construction sale at $350 a SQFT and get buyer deposits that will go towards construction and option 2 is to complete the construction and sell at a higher price of $390 to $450 a SQFT.
AT THE END OF THIS PAGE, YOU CAN VIEW A FULL 3D MODEL THAT YOU CAN SEE WALK AROUND INSIDE AND OUTSIDE AND VIEW ALL THE FLOORS.
First Floor
Second Floor
Backyard of Properties
Location of Project
The lot was recently extended by the city up to the wall to the left of the property, it is highlighted in orange in the picture above. This would make the total lot size at approximately a little over 12,000 SQFT. The additional space was deeded to the property owner because it was of no use to the city. The increased lot size does not currently show on Zillow’s lot lines. However, the additional lot has increased the land space for this project. We are building around an existing pool for the right side of this project. Plans are to have the lot rezoned to build a townhouse/duplex due to the increased lot size, which is now large enough to accommodate this type of project.
This property is owned by one of the principals of Luxury Property Solutions, LLC family members. This is a Luxury Property Solutions, LLC. project.
Luxury Town Homes To Be Built
THE RIGHT SIDE
The right side of the home will offer 5 bedrooms and 5 full bathrooms and 1 half-bath powder room. One of the bedrooms will be on the first floor. The first-floor Suite overlooks back yard/pool. This Flexible Bonus room can be used as an in-law suite, gym, private office with a game room, and a bar. It will offer a separate rear entrance which will allow it to be used as an independent apartment/suite. The use is very flexible.
The property has an existing pool which we will keep saving time and money.
THE LEFT SIDE
The left side of the home will offer 4 bedrooms and 4 full bathrooms and 1 half-bath powder room.
Second-floor second family room, Second-floor laundry
A Spacious Two Car Garage with ample room for cabinets and storage.
CONSTRUCTION COSTS
Construction Cost: $150 per SQFT
Duplex/Townhouse Construction
Total Square Feet of Project: 5,000 approximately.
Left Side SQFT: 2,200 approximately.
Right Side SQFT: 2,800
Total Construction Cost: $750,000
Resale Value: $390 to $450 per SQFT
Left Side, 2,200 sqft, Pre-Construction Price @ $350 per SQFT: $770,000
Left Side Completed Price AT $390 TO $450 SQFT: $858,000 – $990,000
Right Side, 2,800 sqft, Pre-Construction Price @ $350 per SQFT: $980,000
Right Side Completed Price AT $390 TO $450 SQFT: $1,092,000 TO $1,260,000
Pre-Construction Deposit Required: 30% of Pre-Construction Price.
PRE-CONSTRUCTION BUYER DEPOSITS REQUIRED
Left Side Deposit: $231,000
Right Side Deposit: $294,000
Total Deposits: $552,500
Additional Funds Required: $312,500-$837,500.
Funds are to be used towards the build and for operating capital, to make payments to architects, and interior designers, and for employee’s personal and business expenses.
Financial Projections
MARKETING PLAN
Once a professional architect completes the floor plans based on city requirements and permitting, we will advertise in States where people are most likely to migrate to Florida.
3-D Rendering of Project
This is a 3-D rendering of the project which includes an existing pool.
VIEW A 3D MODEL OF THE CONSTRUCTIONS PROJECT
This is a 3D preliminary model of what the homes could look like. This is a concept for now. An architect will be hired to complete the professional plans and permits will be acquired once that is completed. This gives you an idea of the potential Luxury Property to be built on that lot and the potential for buyers to be excited to purchase these new homes.
As you view the 3-D model you will see menu buttons at the bottom left and right of your screen which will allow you to have different views of the property. You can view the outside with the walls on, then you can toggle the outside walls to be invisible and you can see inside the house and also select different floors to look at.
