5702 GLOUCESTER AUSTIN, TX 78723PRESENTED BY INNER 10 CAPITAL

WWW.INNER10CAPITAL.COM

PROPERTY MAP

This property is a residential area of 78723 on Gloucester Rd near the Mueller development.Property in question is outlined in red.

PROPERTY MAP

The lot is large enough to support a duplex and there is an existing duplex home already on the lot. This will save us some water tap fees!

PROPERTY VISION

There is room to build a duplex with over 1750sqft per side plus a one car garage per unit.

This is a conceptual design sketch for what the property might look like.

PROPERTY SIZE AND PLAN

This property is one 11600 sqft lot

It is zoned SF-3

The exit goal for this property is to build a 3500 sqft duplex condo and sell both sides.

Build a total of 2 doors at 1750 sqft each.

A portion of this lot *is* in the floodplain

PROPERTY SIZE AND PLAN

This is the current layout of the lot

There is a 25 year and 100 year floodplain on the lot

Despite this feature, the lot is large and we can build outside of that plain

Our designer has met with the city and the flood and tree issues can be built around

NEARBY COMPS

1 active new construction listing nearby

Average pending $/sqft within 1.0 miles is $227/sqft

Solds even with actives

NEARBY COMPS

These listings match the ones on the map in the previous slide

SCHEDULE ESTIMATION

March, 2015 – Complete due diligence and feasibility - COMPLETE 

April, 2015 – Complete fund raising

May, 2015 – Get demo permit, complete designs, close land, submit building permit

July, 2015 – Permits in hand, start construction 

March, 2016 – Complete construction 

May, 2016 – Close sale of all units

RISKS

Tree or watershed issues prevent building what we want This lot is in the flood plain near the back of the lot which will remove about 20% of the

usable land space

Permitting prevents building what we want or extends schedule The original house was built in 1964 so it is not likely to be flagged for historic review

Housing prices drop There is a lot of margin, our cost basis is $591,000

Debt not available