The Project will be an 8-10-unit, luxury apartment complex located in Los Angeles County. The project is planned to be completed in 2022. The apartment building approximately offers 7500-9000 SF of net rentable area. Out of 10 apartments, it is outlined to be 8 one-bedroom apartments and 2 two-bedroom apartments. Depends on the permitting condition, we might require to have one unit offered as an affordable option depending on the zoning of the property. The apartment complex will offer market-leading amenities for the residents. The community amenities will include a rooftop deck, outdoor kitchen with BBQ, and high-speed Wi-Fi in all common areas. In-unit amenities will consist of a washer and dryer, gas range, premium cabinets, quartz counter tops, hardwood floors, stainless steel appliances, tile bathrooms, central air conditioning, and Nest remote efficiency thermostats.
AMIA Investment relies on the invaluable relationships it has established with leaders throughout the financial, real estate, and civic sectors. These bonds are critically important to the Company's success in the future. These relationships combined with the planning, engineering, and construction insight of the founders and knowledgeable partners accompanying AMIA Investment throughout the development process. This translates into higher returns for our investors as the properties are coveted by investors who tend to pay more for trophy assets.
With more than 20 years of planning experience by leadership and supports from a team of highly talented professionals, AMIA Investment is seeking to become one of the leading property development and asset management companies in Southern California.
Series A project cost is estimated to be $ 4,500,000 including the acquisition of the lot, entitlement process, construction, and the development soft costs. Equity requirements can range from 25%-35% of the total project cost which translates into $1.2M to $1.5M. Amia Management LLC will provide the acquisition, property development, lease out, and disposition service for this project. After disposition, Investor profit will be distributed according to the waterfall distribution mentioned on the private placement memorandum.
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