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Investment Opportunity: Renovation and Development of Chapel Lofts in Alexandria, VA

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Chapel Development LLC presents a unique investment opportunity to acquire and renovate a property located at 901 N. Alfred Street, Alexandria, VA. This 4,000 sq. ft. building, in a desirable area, is structurally sound but requires cosmetic updates. The plan includes retail on the first floor, apartments above, and the addition of two new levels. The vibrant neighborhood, characterized by growth in population and close proximity to metro stations and downtown, presents a lucrative opportunity for modernization and profit.

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Investment Opportunity: Renovation and Development of Chapel Lofts in Alexandria, VA

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  1. Chapel Development, LLC Private Placement Memorandum

  2. Market Conditions • Surrounding area comprised of 5 city blocks of LEED certified townhouses • 8 blocks from downtown Alexandria • 5 blocks to Braddock Road metro • 7 blocks to Alexandria waterfront • Access to I-495 & I-395 • 1-2 Bedroom median sales prices of 430k-630k • YoY median sales price increase of 3.1% • $335 avg. price per sq.ft. sale • $35/sq.ft. retail lease • 14% growth in population in last 10 years • Avg. age of resident is 35 years old

  3. The Property • Property: 901 N Alfred Street , Alexandria, VAPurchase Price: $1,700,000Size: 4,000 sq.ft. 2 Levels, 3 bathroomsYear Built: 1960Zoning: Residential/BusinessEasements:Alley in rear of church used for right of way • Condition: Structurally sound; in need of cosmetics

  4. Chapel Lofts • Value Addition • Renovate property to include retail on 1st floor and basement, construct additional two levels for apartmentdevelopment • 4,000 sq.ft. retail (daycare) • 6,000 sq.ft. residential (5 apartments) • Retail Space • Renovate bathrooms and install new fixtures • Paint and drywall touch-up • Install new furniture and carpet • Develop playground/outside area at rear of building • Additional windows for natural lighting • Condominiums • Frame two additional levels of green space to existing structure • Reinforce structure with steel beams • Complete renovation to include (3) 1 bedroom apts.and (2) 2 bedroom apts. • Install all new electrical, plumbing, and mechanical work on new addition • Appliances, paint, hardwood, tile, cabinetry, etc.

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