Real estate investment platform RealtyMogul has begun accepting investments for a new single-family detached home community in Placerville, California.
The Sutter’s Ridge project, a development comprising 39 lots for single-family detached homes, is located 40 miles east of Sacramento and 45 miles from Lake Tahoe. Despite being in one of California's most underserved counties, housing demand in El Dorado County has surged due to recent market conditions.
The project's sponsor, Williams Homes, based its design on previously successful communities. Construction is slated to start in September 2023 and wrap up by August 2025. Units will range from one to two stories with three to five bedrooms. Upon acquisition, all site work will be completed, and the development will be fully entitled. The project has an estimated development budget of $25,908,921.
Sutter’s Ridge boasts a prime location, just under a mile from downtown Placerville, offering residents a mix of historical attractions, outdoor activities, and entertainment. As the Sacramento MSA expands, housing prices in the city rise. This growth is expected to benefit Sutter’s Ridge, attracting residents looking for more affordable suburban living.
Investment details are as follows:
- Minimum investment: $35,000
- Target internal rate of return (IRR): 25.0%
- Target equity multiple: 1.40x
- Target investment term: 25 months
About Williams Homes: Founded in 1996 and headquartered in Santa Clara, California, Williams Homes property development and management firm has delivered or acquired over 6,000 lots and homes since its establishment. The company has consistently generated returns exceeding 20% annually for both individual and institutional investors.
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