|Current Ann. Return||8.0%|
|Accrued Ann. Return||+
|Gross Ann. Return*|
|Current Ann. Return||8.0%|
|Accrued Ann. Return||+ 8.0%|
|Gross Ann. Return*||16.0%|
|Term Remaining||0 of 15 mo.|
|Underlying Security||Preferred Equity|
This is the opportunity to invest in a series Notes tied to the performance of a newly constructed 3,300 square foot home in Seattle, WA. Build Urban plans to design a new home with focus on sustainability, efficiency, and a modern edge. Build Urban plans to tear down the existing structure to the foundation and rebuild a new 5 star Built Green home with 4 bedrooms, 3.5 baths and impressive views from upper levels. The anticipated sales price will be at mid-market levels for this neighborhood, thus attracting a large pool of interested buyers.
The Notes will correspond to a preferred equity investment in the property. The investment is projected to return 16% annually - 8% paid current and 8% accrued once the project is completed, sold, and closed. The anticipated construction start date is January 2015 with completion by June 2015. Marketing will begin as soon as construction is complete. Build Urban and its President will guarantee the investment in the property.
Build Urban is an established, Seattle based developer with a strong track record of building unique, modern and green single-family homes and condominiums throughout the Greater Seattle Area.
|Gross Annual Return*||16.0%|
|Capital Senior to Fundrise||70-79%||4|
|Capital Junior to Fundrise||10-19%||4|
|Sponsor’s Track Record||$50-249 million||2|
The information contained in the Fundrise Rating is for informational purposes only. It is impersonal and not individualized for any specific investor's financial situation and is not investment advice. These ratings are not intended to be, nor should you interpret them to be, a prediction of how a particular investment will actually perform. You should always carefully consider investments in any security and be comfortable with your understanding of the investment. You may also consider consulting investment professionals.
|Type||Source||% of Total||Amount|
|Preferred Equity||Fundrise Offering||23.8%||$250,000|
Build Urban is purchasing an existing single-family home at 4847 NE 45th St., Seattle, WA 98105. The lot is 45&rsquo x 100’ and is approved to allow one new single family home. Zoning will allow for this new structure to be built with no variances or departures needed for final permit. Build Urban plans to tear down the existing structure and build a new home on the existing foundation. It is anticipated this will save time and costs while still allowing for a new 3300 square foot, 5 star Built Green, 4 bedroom, 3.5 bath home to be constructed on the site.
|Address||4847 NE 45th St.|
|City & State||Seattle, WA|
|Product Type||Residential / Single Family Home|
|Project Phase||Ground-Up / New Construction|
The Seattle area market currently has less than a two month supply of housing inventory and residential demand continues to grow, due in part to strong local job growth. Build Urban believes new homes tend to appeal to Seattle’s buyers as they have no time for maintenance or remodel projects and want a turnkey solution for their family’s housing needs. Additionally, strict land use policies adopted by the City of Seattle further restrict supply in the market.
Build Urban LLC is a full service real estate development company. We provide single source accountability for our investor partners by running projects from feasibility and acquisition thru design and build-out and ultimately through final sale.View full profile