Project Highlights:
- New construction project in Wenatchee, WA
- 1/3 Acre parcel
- 7 Units- 2 bedrooms, 2 bathrooms, with a single-car garage
- Permit ready
The construction of the seven-unit townhomes is scheduled to begin this fall.
Based on the all
-
inclusive cost of $
78
7
,
5
00
for the purchase of the properties from
Equilus Capital
Partners,
$
7
,
212,500
Million for site construction and buildout of phase II
A
-
C
of
54
multifamily units the Properties as a group are projected
to provide an aggregate annual cash flow yield of approximately
6.45
% the first year following t
he completed
development by
CPCII
for the beneficial ownership interests in the Property Partnership. The aggregate annual cash
-
flow
yield is expected to increase on an annual basis from $
481,170
in year two to $
563,932
in year ten based on contractual
lea
se terms and fixed
-
rate projection of 2% annual. Projected aggregate first
-
year net cash from operations of the
Properties is estimated to be approximately $
471,736
. These projections are net total of any debt service, total annual
Administrative Fees to t
he Fiduciary Manager of $
12,026
and total projected Administration and Property expenses of
$
1
29,607
which includes an annual fee to the Fiduciary Trustee.