Iconic Georgetown, DC Townhome Rehab

14.0%
gross ann. return*
0 mo.
term remaining
D
Investment Complete
Current Ann. Return 0.0%
Accrued Ann. Return 14.0%
Gross Ann. Return* 14.0%

Investment Details

Current Ann. Return 0.0%
Accrued Ann. Return + 14.0%
Gross Ann. Return* 14.0%
Term Remaining 0 of 15 mo.
Min. Investment $5,000
Investment Size $380,000
Underlying Security Preferred Equity

Investment Summary

This is an opportunity to invest in a series of Notes tied to Q Street Development’s renovation of an iconic 3-bedroom luxury townhome located on the highly sought after 3600 block of Prospect Street in the heart of historic Georgetown in Washington DC.

Key Deal Points

Personal Guaranty

Rashid Salem, President of Q Street Development, has provided a personal guaranty to Fundrise on the corresponding Fundrise investment.

Top Housing Market

The Georgetown neighborhood historically has some of the highest home values in the Washington, DC market. In 2013, the Georgetown area was the highest priced zip code within Washington, DC.

One-of-a-kind Property

The property itself is uniquely positioned in the market with highly prized views of the Potomac River that few other Georgetown properties can match.

Projected Return Calculator

Principal
$5,000
Gross Annual Return* 14.0%
Term 15 mo.
Total Return*

Fundrise Rating

The Fundrise Rating is a letter rating ranging from A to E that provides investors with the ability to easily compare investments across the Fundrise platform. The Fundrise rating measures the relative risk-adjusted return of an investment. Learn more
D2
A
1
2
3
B
1
2
3
C
1
2
3
D
1
2
3
E
1
2
3
Category Assessment Points
Capital Senior to Fundrise 70-79% 4
Capital Junior to Fundrise 10-19% 4
Location Primary 1
Occupancy Vacant 3
Development Phase Value-Add 2
Sponsor’s Track Record Less than $50 million 3
Personal Guaranty Yes -1
Overall 16 D2

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.

Risk-Adjusted Return

Capital Structure

Type Source % of Total Amount
Equity 8.3% $234,551
Preferred Equity Fundrise Investment 13.5% $380,000
Debt CityFirst 78.2% $2,200,000
Total 100.0% $2,814,551

Property Summary

The project consists of an existing 3,700 SF single family home. The existing home has 3 bedrooms and 3.5 baths on 3 finished levels. Q Street development proposes to completely renovate the existing home, raising the ceiling of both the 2nd and 3rd floors from their current height of 8ft to 12 ft. This house will also include over 1,200 SF of outdoor space on 3 levels including a rooftop deck overlooking the city.

Address 3614 Prospect St. NW
City & State Washington, DC
Neighborhood Georgetown
Product Type Residential / Single Family
Project Phase Value-Add / Rehabilitation

Market Summary

The Georgetown neighborhood of Washington, DC is one of the most iconic, highly sought after areas of the entire metro area. Homes in this historic neighborhood sold for an average of $927,000 in 2014 thus far. In June of this year, EastBanc Development sold out a seven-unit condominium development for prices between $3.6M and $5.5M within three weeks of the original listing. Demand for this type of product was so strong that each buyer paid all cash on their transaction.

About the Sponsor

Rashid Salem

President

Q Street Development is a developer of high end residential real estate in the DC metro region. Q Street targets A+ locations with the intent of bringing a new aesthetic to the most discerning of buyer that is under serviced in the District when compared to that of other prominent cities in the country. With a strict attention to detail, using premium finishes from around the globe, Q Street has set itself apart from the "stuffy" colonial tradition of our nations capitol. Q Street has helped usher in a new age that has seen DC blossom into one of the prime destinations for families, millennials and empty nesters who find expression in their home.

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Fee Schedule

Gross ann. return* 14.0%
Servicing and administration fee -0.3%
Net ann. return to investors 13.7%

Other Past Investments

DC Luxury Condo Loft Conversion

Washington, DC
D
Gross Ann. Return* 15.0%
Term Remaining 0 mo.
Underlying Security Preferred Equity

Atlanta Condo Pre-Development Loan

Atlanta, GA
B
Gross Ann. Return* 14.0%
Term Remaining 0 mo.
Underlying Security Senior Debt