Lloyd Dr. Napa California
Napa, California’s housing inventory is extremely low while demand high. Home prices continue to rise because of people moving to the area or buying 2nd homes in this hotbed of California wine tourism. We have a unique opportunity to build in the Napa City Limits on a sub-dividable vacant lot.
The Lloyd Drive project is nestled in a beautiful, well established neighborhood in North Napa with excellent home values. Our parcel of land is 1.07 acres. We intend to develop the land and prepare it for six new homes on individual lots. The proposed lots will each be roughly 6,000 square feet. The cost per finished lot will be approximately $200,000. Napa Valley lots typically sell for 50% more than this, if they can be found at all.
The project will be a new cul-de-sac development called Cecile Court. it will feature six new homes. There are three sizes of home planned. Two smaller homes will be three bedroom, two and a half bathroom models with 2,074 sq./ft. each. Three larger homes are planned. Each will have four bedrooms and three and a half bathrooms. These larger homes will be one of two floor plans with either 2,571 sq./ft. or 2,664 sq./ft. The final home home will be a four bedroom, two and a half bathroom build with 2,396 sq./ft.
The Internal Rate of return for this project will be approximately 25% for this 12 month project.
Projected IRR: 20%
Projected ROI: 30%
Time Frame: 1.5 Years