Toyne Street, San Diego

Lot : Approx. 6,000sqft

Zoning: MF3000 (1 unit per
3,000sqft)
Current Property Use: Vacant Land
Area: Multi-family Dwellings
Current Sale Price: $$175K dropped
to $90,000
Days on Market: 267 days when we
found it.
City of San Diego off of Market Street
Close to Schools, Freeways, and
Trolley
In an area populated by people from
their 20’s-30’s with children.
Lower Income families
‘Section 8’ (Secured payment on
rentals)
Purchase Price: $70,000
Purchase Agreement Terms:
• 45 day escrow
• 21 Day due Diligence
• $1,000 Deposit
• Authorization to relist and market the
property during escrow with an assignment
clause.
• C.O.E. to be 4/17/2008
 required work & related cost on toyne street

PERMIT & MOVE-ON HARD COSTS

building plans & permit processing 8,000
special permit for move-on 4,000
school & environmental fee 6,000
utilities capacity fee & connection cost 15,000
underground utilities installation 1,000
grading & fill of north eastern corner & excavation for footing 500
foundation cement & rebar 1,000
cinder block work L&M for exterior stem walls including fill 2,000
attach house to foundation 1,500
connect utilities including new 100 A panel 2,500
repair to old roof with all new torch-down roofing & gutter 2,500
build new entry landing & cover including steps 800
replace windows & doors 2,000
repair & paint stucco 600
47,400
INTERIOR REPAIRS & FINISH WORK
remove most of interior drywall 400
repair and reconnect power system 800
repair and reconnect plumbing system 800
install new water heater 600
install new heating system 1,500
install new insulation where needed 500
install drywall / tap & mud / and spray texture 2,500
paint interiors 700
install new electrical fixtures 500
install new plumbing fixtures 900
install new linoleum in kitchen & bath 500
install new bathroom vanity & MC 300
paint kit cabinets / install new doors & new Formica counters 1,000
install new carpet 800
11800
LANDSCAPE & HARDSCAPE WORK
install new driveway for 4 cars (4 strips of 10'x20' = 800 SF) 1,800
install grass in front yard area 500
install trees (optional) 500
install street side fencing & gate 500
hauling & cleanup 500
3,800

total cost of abov e proposed work (excluding mov e-on

63,000
cost)
LotPurchase Price: $70,000
Move On Homes: $15,000
Improvement of Raw Land: $63,000
Carrying Time and Closing Costs:
$25,000

 $178,000 Total Acquisition Cost

Pull City Permits
Add 2 “Move On” Houses
Remodel “Move On” Houses
Install Parking on Property for 4 Cars
Installation of Landscaping and
Fences
All Utilities connected
Completely refurbished Units
2 Detached Units
2 Bedroom, 1 Bath, 800sqft, each
unit
Amenities include: washer, dryer, off
street parking, BBQ area
Based on the comparables for
Duplexes in that neighborhood
$456,000-20%
Depreciation=$365,000
Loan to Value: 49%LTV
Loan to Value to the end Buyer:
68%LTV
If we keep property, our Cap Rate is
12%,
We will refy up to 80% LTV=$292,000
$110,000 cash in our pocket
$73,000 Equity Position
$100/Month Positive CASH FLOW
$2,400/Month P.I.T.I.

If we sell, the end buyer’s Cap Rate is

9%
Option 1
• Purchase Price: $199,000
Includes: Land, 2 ‘Move On Houses”, Plans,
Thorough Consultation from ID Group’s
Development Department
You finish the work for $50-60K
Approximate Profit: $100,000 to
$150,000 or 65-70%LTV
Purchase Price: $199,000
Seller will carry 25% LTV and
Subordinate
Purchase Price includes same as
option 1 but with seller financing
available.
Purchase Price:$365,000
Purchase Price includes: Finished
product. All permits, work, and
houses remodeled and installed.
Estimated market value:$405,000
Profit: $40,000 or 90%LTV
POSITIVE CASH FLOW!
5% OF PURCHASE PRICE
TO PERSON WHO
BRINGS BUYER TO THE
INFINITY DEVELOPMENT
GROUP.
Daniel Alvarez, Ivan Navarrete
The Infinity Development Group
4045 Bonita Road Suite 307, Bonita,
CA 91902
Office: 619.479.0447
Fax: 619.479.0560
Email: idgroup@live.com