PGA West Resort

La Quinta, CA (PGA West Golf Course)

36 Lot Residential Subdivision

4130 Cahuenga Boulevard

Details

Date Purchased: May, 1999
Purchase Price: $1,750,000
Sale Price: $2,784,000
Sale Date: June, 2000
Holding Period: 13 Months
Initial Investment: $400,000
Investor Proceeds from Sale: $500,000.00
Internal Rate of Return: 20.7%

Completed Business Plan

  • Purchased vacant land zoned for condominiums in a market where single family residential development was highest and best use
  • Completed lot entitlements for 36 single family residences
  • Upgraded tenant suites
  • Leased building to stabilized occupancy
  • Sold “in-bulk” to developer at a profit

Persius Creative