Project Description

The project is a proposed student apartment located on the vacant lot behind Still Hall.  Currently the lot is zoned for a single-family home, but assume that with spending $4,800 in legal fees, a rezoning request will be successful allowing the proposed improvement.  The building has five apartments upstairs.  There is also a full-sized daylight basement that will house two addition apartments giving a total of seven.  The building dimensions of the building are 72' by 32'.  The building is two stories with an 8' red brick veneer along the front of the building.   Assume that the construction contract is $184,320 including $12,00 for a asphalt parking lot and the lot cost is $30,000.  The building is to be built with stock plans costing $1500.

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Investor Profile

Project Outline