|Current Ann. Return||–|
|Accrued Ann. Return||+
|Gross Ann. Return*|
|Current Ann. Return||–|
|Accrued Ann. Return||–|
|Gross Ann. Return*||12.0%|
|Term Remaining||– of –|
Lock 7 Development is excited to introduce our newest investment offering, which is the opportunity to place mezzanine financing at a 12% return on a new eight-unit condo building in one of the most stable neighborhoods in DC, Glover Park. This area is known for the tree-lined streets, neighborhood retail and proximity to Georgetown. This building is unique because it is on a large lot, which will allow us to develop (8) 2 BR, 2 BA units. Most units have windows on three sides, and four units will have windows on all four sides. Two penthouse units have private roof decks.
|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 Investment||19.7%||$550,000|
This site contains an existing building with four units. We will be building a new basement here as well as a new rear addition with four more units. The lot is very wide and flat. The new units will have high ceilings, great light and thoughtful floorplans. Each of the eight units will contain (2) BR’s and (2) BA’s.
|Address||3921 Fulton Street NW|
|City & State||Washington, DC|
|Product Type||Residential / Multi-Family|
|Project Phase||Value-Add / Renovation & Expansion|
Glover Park is a well-established neighborhood in NW DC, very close to both the National Cathedral and Georgetown. The market for condos is very strong because of high demand and low supply. There is no undeveloped land left in the neighborhood, which makes new construction such as this project very rare.
Lock 7 Development, LLC is a real estate development firm specializing in renovating and developing residential homes and buildings in the Washington, DC Metro area. They create unique and exciting places to live with a strong emphasis on sustainable and environmentally-friendly building techniques. The residences blend high-end contemporary design with conscientious historic preservation.View full profile