FUTURE PROJECT
Cardwel Ave, Orangevale/Folsom
Apartment Complex & 25-30 townhouses
Three hundred unit apartment complex as a rental property plus 25 - 30 townhouses to be sold for $2 - $2.5 mil
Projected budget: $32 million to build
Land: $2,595,000
Infrastructure, county fees, environmental report: $1 mil
Parking, sidewalks, security fence, and solar: $2bmillion
Contingency: $2 million
Projected rent per unit:
100: 2 bedroom: $2,200 200: 3 bedroom: $2,800
80% (240/300 units) occupancy: monthly rental income: $624,000
100% occupancy monthly rental income: $780,000
Projected Monthly Maintenance cost: $300,000
(Property management, gardener, pool, etc.,.)
Size: 1,200 - 1,500 sq ft
2 – 3 bedroom
2.5 - 3.5 baths
washer/dryer in each unit
300 unit apartment building
60 acre lot
Secured with iron fence and security cameras
Amenities: park, playground, pools, clubhouse,
Daily gardener
