The Jibboom Street project offers a prime development opportunity in the heart of Truckee, CA. Situated on a strategically located 8-parcel site, this project is ideally positioned to capitalize on Truckee’s booming real estate market. Located near downtown, the parcels are zoned for mixed-use, allowing a variety of commercial, residential, and hospitality development options.
Financial Highlights:
• Projected Sales Revenue: $47,112,000
• Total Build Cost: $26,865,000
• Net Profit (Estimated): $27,578,030
• Estimated Rental Income (6% Cap): $7,704,400
• IRR (Internal Rate of Return): 23.02%
Development Breakdown:
Building A:
• Unit Mix:
o Studios: 7 units
o 1-Bedroom: 8 units
• Total Sales Price: $2,200,000
• Rental Income: $29,200 per month
Building B-C:
• Unit Mix:
o Studios: 8 units
o 1-Bedroom: 10 units
o 2-Bedroom + Flex: 12 units
o 3-Bedroom: 2 units
• Total Sales Price: $28,100,000
Building D:
• Unit Mix:
o 1-Bedroom: 5 units
o 2-Bedroom: 1 unit
o 3-Bedroom: 9 units
• Total Sales Price: $20,975,000
• Commercial Space:
o Total Square Footage: 2,173 (Buildings B & D)
o Estimated Lease Value: $5 per square foot
Investment Potential:
• Total Project Cost: $37,402,247
• Equity Required: $1,186,685
• Loan Financing: $28,051,685 (75% LTC)
Breck Overall
Sierra Sotheby's Int - Rock
