Take a Look
$1,000,000
Total Costs
$8,000,000
Projected Sales Value
$2,500,000
Estimated Profit
200%
ROI
$
Total Costs
$
Projected Sales Value
$
Estimated Profit
85%
ROI
Growing market for premium
nature retreats
Efficient construction with
high Profit margins
Consistent rental demand
from travellers
About The Property
Elevated Developments is raising capital to acquire Lot 31 Elk Knob Drive in the Elk River Country Club Community of Banner Elk, NC. The land is being purchased for $120,000, which is an attractive basis for Elk River real estate. The target annual return on investment for investors is projected at 27.2%, inclusive of an 8% dividend paid monthly.
The to-be-constructed home will contain approximately 5,400 square feet of living space, consisting of 5 bedrooms, 5.5 baths, a flex room/bonus room, a three-car garage, a pool and pool house, and an outdoor kitchen/living area with high-end finishes consistent with the market. The home will offer incredible views and sunsets over Tennessee from the second level. The design is currently being developed by our preferred architect and will be fully completed, engineered, and submitted for permitting prior to closing on the land.
We are seeking $400,000 to acquire the land and construct the described home. Elevated Developments will obtain debt financing for the remaining capital stack at 70% loan-to-cost (LTC) / 60.3% loan-to-value (LTV). The full sources and uses of funds and projected profit are detailed in our proforma, available upon request.
The project is located in the Elk River neighborhood of Banner Elk, NC, approximately 3.5 miles from the Beech Mountain Ski Hill.
New Project Listed
The to-be-built home will offer incredible views and sunsets over Beech Mountain from the second level of the home. The community is proximate to the west end entrance of 30A, which is the quieter side of the strip providing easy beach access and all that 30A has to offer.
A private golf course, Runway and Equestrian center are located within minutes from the lot. The community is located right off of xxxxxxx Road, approximately a five-minute drive to Banner Elk and the shopping and entertainment hubs of the Blue Ridge Parkway
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