Projects Currently Under Development
7938 S. San Pedro St., LA, CA – LLC Structure
- Investors to purchase land for approx. $250,000 (about $40 psf)
- SJDC/Bella Vista (the “Manager”) to oversee development of property, including all planning, permitting, financing (balance of equity and all debt), construction, delivery, etc.
- Project takes approximately six months from completion of plans and permitting (hoping to have permitting expedited).
- Steaven Jones and Lawry Meister to guarantee construction loan.
- An entity affiliated with The People Concern to guarantee the leases for each unit. Upon completion, project is 100% leased at $550/bedroom/month.
- The People Concern provides all support services for the residents.
- Bella Vista manages the property.
- When complete, the Manager refinances the project with a long-term loan.
- Upon completion, cash flow after operating expenses and debt service provide equity investors with a 5% preferred return on their equity contributions.
- Balance of the cash flow is split 75% to the equity investors, 25% to the Manager. Estimated return to equity investors is 5.1%.
- Filing HCID Application for tax relief status, which will help economics even more.
- 6,120 sq. ft. land
- Zoned R-4
- 8 units: 6 four-bedroom, 2 two-bedroom
- 28 clients (or 26 and a manager unit)
- 6,240 sq. ft. building
- Three stories tall (approx. 30’)
- Community room (264 sq. ft.), meeting room, laundry
- Two parking spaces
- Two sets of stairs (one at each end)
- Large outdoor area