Tommy Dobczyk analyzes a property that could be rezoned from 13 to 18 units per acre. A condo sell-off would generate $2.7 million in profit on a $6.3 million valuation, modest but workable.
Are you in the Deal Room? The 1800s. And so that's why that needs to be redone, is because it's old. It has a lot of wear and tear, but you can redo it in a traditional— in its traditional fashion and restore it to being something beautiful. And then also set up back here with United Tiny Homes like crazy. Right? Right. So do we have somebody coming in? I think it was a member. Huh? It looked like one of the members. Oh, oh, oh. Anyway, jump back over to the discussion over on Deal Hunter and we can go through it. From the top here, it shows that breaks down to the snapshot, quick, some quick assumptions right here. It shows pro forma assumptions. It says that zoning allows for 13 units per acre, which is potential 18 units. It says the average rents here, cost of construction, sales comps, et cetera. It shows that there's a value of almost $6.3 million at a 6% cap rate if we set it up that way. So to do a condo sell-off would show about a $2.7 million profit. So Not much, not much of a, of an, like the increase isn't really there, but it's still profitable.
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