Current Investments

Lehigh Acres

real estate investing san diego

Lehigh Acres

Investment Information

Address: Various Lehigh Acres, FL
Asset Class: Single Family Home Development
Size: 16 Single Family Homes
Year Built: 2005 - 2007
Acquisition Date: 2004 - 2006
Acquisition Cap Rate: N/A

Financial Performance:
Total Cumulative Investor Distributions:  N/A

16 single family homes, built between 2005-2006 in Lehigh Acres, FL, east of Ft. Myers, and just 20 minutes from the Gulf of Mexico. Homes range in size from 3BR/2BA to 4BR/2.5BA and are situated on ¼ acre lots. Features include upgraded appliances, laundry rooms, tile floors, large screened lanais and two car garages.

MPC Strategy:
McKee Private Capital purchased 16 vacant residential lots in Lehigh Acres, FL in 2004, at an average cost of $10,625, and obtained 100% construction financing to develop new single family homes for investment.

The timing of this investment was good, and we were able to sell 10 of the 16 homes prior to the market collapse at profits ranging from $75,000 to $125,000 per house. Our leverage on these homes was enormous given the ability to finance 100% of the development cost. The remaining 6 homes remain in our investment rental portfolio, and are currently 100% occupied. The continued growth in Southwest Florida is impressive, and we are happy to hold these remaining homes for long-term capital gains.