Mohawk St 14 Units | College East
IMPORTANT NOTICE AND DISCLAIMER
This information is for illustration and discussion purposes only. It is not intended to be, nor should it be construed or used as investment, tax, or financial advice, any recommendation, or an offer to sell, or a solicitation of any offer to buy, an interest in any security, including an interest in this company or in any other investment or project managed or advised by SDRE Homebuyers LLC. Any offer or solicitation of an investment may be made only by delivery of the SDRE Homebuyers LLC and its affiliates confidential offering documents (collectively, the "Offering Documents") to accredited and/or sophisticated investors. Prospective investors should review carefully and rely solely on the Offering Documents in making any investment decision. Targeted returns discussed in this presentation are used for measurement or comparison purposes and only as a guideline for prospective investors, shareholders or other to evaluate this opportunity. Targeted returns should be evaluated over the time period indicated and not over shorter periods. No representation is made that SDRE Homebuyers LLC will or is likely to achieve its objectives, that SDRE Homebuyers LLC's business plan will be successful, or that an investor in SDRE Homebuyers LLC, and its affiliates will or is likely to achieve results comparable to those shown or will make any profit or will not suffer losses or loss of principal. An investment in SDRE Homebuyers LLC involves risks, as disclosed in any final offering docs.
THIS PRESENTATION INCLUDES OR MAY INCLUDE CERTAIN STATEMENTS, ESTIMATES, AND FORWARD-LOOKING PROJECTIONS WITH RESPECT TO THE ANTICIPATED FUTURE PERFORMANCE OF THE COMPANY. SUCH STATEMENTS, ESTIMATES, AND FORWARD-LOOKING PROJECTIONS REFLECT VARIOUS ASSUMPTIONS OF THE MANAGER THAT MAY OR MAY NOT PROVE TO BE CORRECT OR THAT MAY INVOLVE VARIOUS UNCERTAINTIES. NO REPRESENTATION IS MADE, AND NO ASSURANCE CAN BE GIVEN, THAT THE COMPANY CAN OR WILL ATTAIN THE MANAGER'S PROJECTED RESULTS. ACTUAL RESULTS MAY VARY, PERHAPS MATERIALLY, FROM SUCH PROJECTIONS.
Any statements made in this presentation are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements.
All investments, including real estate, is speculative in nature and involves a risk of loss. We encourage any investors to invest carefully. We also encourage investors to get personal advice from your professional investment advisor, CPA or other trusted financial advisor and to make independent investigations before acting.
IT IS IMPORTANT YOU UNDERSTAND THAT WHILE WE ARE PROVIDING PROJECTIONS BASED ON THE FACTS AND FIGURES AVAILABLE, NO ONE CAN TRULY PREDICT THE FUTURE.
Project Overview
SUMMARY Total Capital Needed
This development project is strategically located in the vibrant College East neighborhood of San Diego. This project comes with stamped plans from SDRE’s inhouse partner, Pro-Cal, significantly reducing the development timeline and allowing construction to begin shortly after escrow closes. This development offers a unique opportunity to invest in a rapidly growing and popular neighborhood in San Diego.
15% Preferred Return
23.8% Projected IRR
1.28X Target Equity Multiplier
Project Address 6927 Mohawk St San Diego, CA 92115
Purchase Date June 2025
$1,115,477
Anticipated Investor Return
$1,426,971
Cultural Sensitivity Yes, moderate
Paleontological
Sensitivity Yes, moderate
Sensitive
Vegetation No Vernal Pool No Brush Management No
Size (Sq Ft) 7,475 Existing House Size 1,746 Type of Development Keep & Add
Project Overview
Construction & Stabilization
18 Months Units Added 12
Purchase Price
$1,600,000
Remodel + New Construction Costs
$1,759,131 Soft Costs
$129,723
PROJECT EXPECTATIONS Gross Potential Rent $379,610 Expense Rate
Anticipated Sales Price
$5,595,124
DISPOSITION
Expected Sale CAP Rate
Expected Sale Amount $5,595,124 Closing Costs (5%) $279,756
DEAL NOTES
• SDRE Homebuyers acquires land zoned for development (14 Units)
• Acquisition Costs are $1,600,000 total or $430 per unit
• Outside Fees / Equity Reserve costs are $262,491 total or $71 per unit
• Hard Costs are $1,759,131 total or $473 per unit
• Total project cost is $4,302,582 and net project value at sale is $5,595,124
• Average cost per unit is $1,156 and net value per unit at sale is $1,503
Rent Comparables
2. 5834 Baja Dr. San Diego, CA 92115
3. 4806 Rolando Blvd. San Diego, CA 92115
Purchase Comparable Sales
Multifamily Comparable Sales
Washington St. Lemon Grove, CA 91945
Rough Project Plan
6927 Mohawk St. San Diego, CA 92115
• Remodel existing property
• Adding 4 stacks (8 units)
• Convert garages into studios
Parcel Number & Map
Sponsor Information
About SDRE 1,803
Housing Starts
Planned completions for 2025 12%
Market Share
Leading position in San Diego 84
Active Projects
Setting the pace for infill development
Competing alongside institutional giants, SDRE’s local expertise and vertically integrated model position it for both volume and efficiency.
Our projects are delivered faster, more effectively leased, and built for long term ownership in mind.
In a market where most firms average less than 5% share, SDRE is setting the pace for multifamily housing in San Diego.
SDRE Leadership Team
Christian Spicer
CEO and Founder, SDRE
Founder, VMVMT
Co-Founder, PRO-CAL Design and Engineering
Nearing 20 years of San Diego real estate experience, Mr. Spicer has grown SDRE from property management roots to a full-scale development firm.
In the past four years, he has built 164 units and manages over $500 million in assets. Mr. Spicer leads one of the most active real estate teams in the region, specializing in acquisitions, development, and property management.
Brian Doyle
President, SDRE
Mr. Doyle has over 35 years of real estate development experience, overseeing 32,000 homes and $17 billion in revenue. At IMH Companies, he secured 1,100 units in Salt Lake City and launched the $120 million 4800 Loft Project. Previously, he was COO of William Lyon Homes and Western Area President at Taylor Morrison Homes, managing $2 billion in annual revenue across major western markets. He holds a B.A. in Economics from California State University, Long Beach.
Thomas Hinson
Capital Markets, SDRE
Mr. Hinson brings decades of experience in capital markets and real estate investing. Formerly Chairman of a debt fund for land development and construction, Hinson has executed over $500M in real estate investments and has worked in fiduciary services since 1996. He currently serves as CEO of 1031 Exchange.
Jody Watkins
RMO, Vertical MVMT
In his extensive 30-plus years of experience, Mr. Watkins has amassed a comprehensive portfolio of achievements like Petco Park, the Hotel Del Coronado, and diverse multifamily and hospitality ventures across Southern California. Holding both California State License Board A and B licenses for the past 18 years, Jody’s expertise covers all sectors of the construction industry.
Jesse Leon
CEO and Co-Founder, PRO-CAL Design and Engineering
Mr. Leon began his career working as a draftsman in the summer of 2006. He started his own company, KL Drafting & Design, in 2009. Mr. Leon is very familiar with the zoning and building codes of all the jurisdictions within San Diego County. He has processed over 1,500 permits throughout the county of San Diego.
