LOOKING FOR A PARTNER TO BUILD AN APARTMENT BUILDING AND EARN $1M I'm offering my land and the architectural design to built 8 apartment building. You ( developer, general contractor or investor ) get the project approved with the city and do the construction with your funds or loan. We rent or sell the apartment building to share the profits Each unit has 2 bedrooms and 2 bathrooms Estimated investment in the construction is around $999,640 and the net profit is $1,090,360. ( Investor earn 95% of net profit ) There is huge upside potential here. Since apartments would be new, it will have a very low expenses and the cape rate can be 8% These are estimated, and value will change according to market conditions. The lot is less than 10 minutes away from the beach, near shopping and dining, Daytona Beach International Airport, I-95, Hwy A1A, Daytona State College and Bethune Cookman University. It's also near highly-rated schools including Spruce Creek High and Tomoka Elementary. The following is a detail of the final cost and profit of the project 1- PROJECT: New construction - Apartment building 2- TOTAL UNITS: 8 3- AREA OF EACH UNIT: 754 sqft 4- TOTAL AREA TO BUILD: 6032 sqft plus stairs and other common areas 5- COST PER EACH SQFT OF CONSTRUCTION: $145 6- COST OF THE WHOLE BUILDING: $874,640 7- COST OF THE LAND: $325,000 ( 24.53% of the total cost of the project) 8- COST OF BUILDING PERMITS WITH THE CITY OF DAYTONA AND VOLUSIA COUNTY: $125,000 (approx.) 9- TOTAL COST OF PROJECT (INCLUDING THE COST OF THE LAND): $1,324,600 10- RENT PER EACH NEW UNIT (2025): $1,350 / monthly 11- GROSS SCHEDULE INCOME (GSI): $129,600 / year 12- OPERATING EXPENSES (including cost of management company): $33,000 / year (25% of GSI) 13- NOI (net operating income): $96,600 14- CAP RATE: 7.29% 15- COST PER DOOR (new construction): $165,580 16- MARKET CAP: 4% 17- MARKET VALUE OF THE PROPERTY WITH UNITS RENTED: $2,415,000 18- PROFIT AFTER SELLING THE BUILDING: $1,090,360 PLEASE CONTACT : JIMMY 786-942-6494