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Washington, DC NW
CONSTRUCTION & PRESALES!!!
The Columbia Heights neighborhood is a culturally diverse neighborhood in northwest Washington DC. It is a major night life area with many bars and restaurants along the primary commercial district of the 18th Street Corridor. Much of the neighborhood is composed of 19th and early 20th century row houses. The property is blocks away from 18th Street (the main commercial district of Adams Morgan) and very close to the Harris Teeter grocery store. This property was given a Walkscore of 97 out of 100 (Walker’s Paradise). This property is conveniently located within walking distance of Dupont Circle, Adams Morgan, the "U" Street Corridor and 14th Street. These four neighborhoods continue to be at the center of DC’s most desirable areas for young professionals and urban condo buyers. The property was purchased in 2015 and completed construction in Spring 2018. The approved plans called for 20 condo units and under ground parking spaces. Project closeout was in November 2018 with investors realizing a 23.3% project return on investment (15.3% annualized).
Washington, DC NW
Ontario Street was planned as a 14 unit condominium development and construction project in the Adams Morgan neighborhood of DC NW. The project closed in early 2017 and shortly thereafter it was pursued by a local area developer for purchase, development, construction and sale. Both JIDI and our DC partner agreed to the sale. Returns for the project over the 7 month duration eclipsed 11.8% (20+% annualized).
Washington, DC SE.
SE Washington DC is located south of East Capitol Street and east of South Capitol Street. The quadrant includes Capitol Hill, the Supreme Court, the Library of Congress, the Washington Navy Yard, the Marine Barracks, Fort Dupont Park, the Anacostia Waterfront, Eastern Market, St. Elizabeths Hospital, RFK Stadium, Nationals Park, the Frederick Douglass National Historic Site and the Anacostia Community Museum. SE Washington DC has a mixed population with politicians and government employees, journalists, professionals, and students residing in the Capitol Hill neighborhood. The area is undergoing a massive transformation and is one of the city’s fastest-growing in terms of employment, entertainment and residential growth. This property is located in the Marshall Heights area of southeast Washington DC. The property is 16,000 square feet & was developed for single-family residential use to build 8 townhome units at 2-3 bedroom and 2-3 bath, 2400 square feet each with two parking spaces behind each unit. This property is located less than a half mile from the Benning Road metro which is on both the Blue and Silver lines just two stops from Eastern Market in Capitol Hill. The project concluded in September 2017 with the sale of the land prior to construction of the townhomes. JIDI earned a return of 40% over the project duration (32% annualized).
Washington, DC NE.
One of the newest investments in our portfolio, this 180+ unit multi-family project is nestled in the heart of the H-Street Corridor of Washington, DC NE. The Property is closely situated to several retail and dining options, entertainment and nightlife amenities, national landmarks and thousands of employers. The property is well positioned to capitalize on one of the nation’s strongest economic and residential markets. JIDI invested in the purchase of one of two parcels of land and remained in the project until the land was entitled with proper zoning. Following the entitlement process JIDI was refinanced by another private equity company who will be taking the project to it's final completion. JIDI investment plus proceeds were recapitalized at a return of 50.7% over the project duration (over 30% annualized).
SOUTH CAROLINA LAND FLIP
Property is located in Oldfield Plantation outside Hilton Head Island, SC. Property was purchased in September 2016 and sold February 2017 for a net return of 40% (96% annualized)
Washington, DC NW.
This highly successful project converted two adjacent row homes into a 20 unit luxury condo building with underground parking. Property is located in the Columbia Heights neighborhood of Northwest Washington DC, within walking distance to the Columbia Heights metro and the DC USA mall and is closely situated to Adams Morgan, downtown Columbia Heights, and the U Street Corridor. These three neighborhoods continue to be at the center of DC’s hottest development areas. It is a highly desirable area for young professionals and first time home buyers. The project presold 16 of 20 units and closeout for JID was in late July 2016. Total JIDI returns were 85% on the investment (32% annualized).
1528 SENSENY ROAD
The subject property consists of two structures (homes). The larger home of the two is a 6 bedroom/4 bath house, 4100+ sq. ft. It was built in 1952, but was fully renovated/rehabbed in 2005 with all systems upgraded/updated and an additional add-on. The majority of the renovation work on the larger home consisted of: a) gutting the basement, adding insulation, re-drywall, and painting; b) new flooring for front half of second basement; c) painting throughout the house; d) new appliances in kitchen; d) carpet cleaning; e) paving the driveway; and f) landscaping. The smaller unit is situated nicely and will serve well as a rental, mother-in-law suite, or older child’s quarters. It has a washer and dryer hookup, small kitchenette, family space, and an upstairs bedroom/loft. It also has a small enclosed unfinished sunroom overlooking the property. Majority of the work on the smaller home consisted of a) new HVAC; b) drywall repair and painting; c) new bathroom toilet; and d) new outside gutters. The project concluded late 2015 and sold in March. JID earned a ROI of 19.3% (38.6% annualized).
405 & 407 DAVID ROAD
405 and 407 David Road are located in Wendell, NC. Both properties were converted from tenant properties to owner occupant. 405 has 3 bedrooms, 2 bathrooms, and has 1,680 sqft of living space. The property was built in 1995. 407 has 3 bedrooms, 3 bathrooms, and has 1,512 sqft of living space. The property was built in 2001. Similar homes nearby have 3 bedrooms, 3 and 2 baths and sell for around $85,000 - $105,000. Both homes have an open living room; updated kitchen; master bedroom and bathroom. There was a small preparation rehab (mainly consisting of cleaning and touching up as well as exterior landscaping and minor painting) to prepare the properties for resale. Time of rehab was 15-30 days with a sale of end of February. JIDI earned a ROI of 18% (36.0% annualized).
100 BERRINGER LANE
100 Berringer Lane is located in Garner, NC. Garner is a growing community of almost 28,000 residents. Located at the intersection of U.S. 70 and Interstate 40, Garner is about 8 miles south of downtown Raleigh, North Carolina’s capital city. Garner residents are closer to downtown Raleigh than many Raleigh residents are, but have retained the hometown atmosphere that makes Garner special. This diverse community has many amenities to offer. Over 350 acres of parkland, a thriving business economy, safe and beautiful neighborhoods, quality schools, great community events and a plethora of shopping and local entertainment venues, Garner has something for everyone. This home has 3 bedrooms, 2 bathrooms, and has 1,798 sqft of living space. The property was built in 1997. Similar homes nearby have 3 bedrooms, 2 baths and sell for around $95,000 - $120,000. The home has an open living room with a fireplace; updated kitchen; master bedroom and bathroom. The rehab on this property consisted of mainly cosmetic repairs with a few small upgrades to the main rooms (kitchen, bathrooms, fixtures, painting, living and dining spaces) with the interior. The exterior focused primarily on painting, pressure wash, and landscaping. Time of rehab was 30 days and sold in late December. JID earned a ROI of approximately 21.1% (42.2% annualized).
111 STRABRIGHT LANE
111 Starbright Lane is located in the Sunray Village area of Clayton, NC and is approximately 20 minutes southeast of Raleigh, NC. The Homes for sale in Sunray Village are in high demand. Downtown Clayton features a brewery, restaurants, live music, performing arts, farmers markets, and arts festivals. There are several mom & pop shops that have flourished for decades and new businesses have brought even more variety into downtown Clayton. Downtown Clayton also features a Sculpture Trail, community gardens, shops and fine dining. This home has 3 bedrooms, 2 bathrooms, and has 1,792 sqft of living space. The property was built in 2000. Similar homes nearby have 3 bedrooms, 2 baths and sell for around $95,000. The home has an open living room with a fireplace; Eat-in kitchen bar; Spacious master bedroom, and a Master bathroom with a his/her vanity and garden tub. The rehab on this property consisted of mainly cosmetic repairs and upgrades to the main rooms (kitchen, bathrooms, fixtures, painting, living and dining spaces) with the interior. The exterior focused primarily on siding repair, pressure wash, and landscaping. Time of rehab was 30 days and sold in mid August. JID earned a ROI of 24.8% (68.3% annualized).
LANIER PLACE (ADAMS MORGAN)
Washington, DC NW.
Originally a 5 bedroom and 3.5 bath 1,848 square foot home, Lanier Place has been transformed into eight-unit boutique condominiums featuring one and two bedroom homes and two amazing penthouses. The property is nestled on a quiet and serene section of Adams Morgan just moments away from restaurants/cafes, metro/public transportation, shopping, and recreational parks. This property was given a walk score of 94 out of 100 (Walker’s Paradise) by walkscore.com which grades properties on its walkability to stores, restaurants, transportation, etc.. Adams Morgan is also located just 2 miles north of the main business district of DC. Adams Morgan is one of DC’s most unique and established neighborhoods. This neighborhood continues to be in high demand by young professionals seeking the Live, Work, Play environment. JIDI earned a 46.3% return on the invested equity (over 37% annualized).
12365 Neale Sound
Cobb Island, Maryland
Located approximately 45 miles south of Washington, D.C. and considered part of the Washington, D.C. Metropolitan Statistical Area. This beautiful community is separate from the mainland by Neale Sound. This single-family house is a 5 bed/2 bath, converted from a 1798 square foot to a 3103 square foot all brick home. Located on 2/3 of an acre, this two-level home has an open floor plan, sunroom, kitchen, dining room, living room, and basement. The rehab effort consisted of painting, installing granite countertops, new appliances, landscaping, pool restoration, kitchen renovation (flooring, cabinets), installing hardwood floors, tile and carpet, and bathroom upgrades.
6412 Kipling Parkway
District Heights, Maryland
Located in District Height, MD this home was converted from a 3 bed/2 bath, 1300 square foot (heated) to a 4 bed/3 bath, 2125 square foot (heated). The home's floor plan is open and contains a kitchen and dining room/living room combo. It also inlcudes two bedrooms with a full bath. The second floor contains the master bedroom suite with mater bath. The basement was converted to usable living space and includes a bedroom and full bath. There is a large backyard with a privacy fence to compliment the professional landscapping. Rehab effort consisted of painting, installing granite countertops and new appliances (stove and dishwasher) in the kitchen, installing hardwood floors, tile and carpet, and bathroom upgrades. Timeline from purchase, through rehab and listing , to sale was just over ten months.
1632 DeFoors Walk
Located in the Underwood Hills neighborhood (7 miles NW of Atlanta) this beautiful and spacious property was originally a 2 bedroom, 2.5 bath townhouse. As part of the renovations it was converted to a 3 bedroom and received upgrades to the kitchen, master/guest bedrooms/bathrooms, hardwood flooring/tile, appliances, painting/design, and carpeting. Timeline from purchase, through rehab and listing , to sale was just over four months.