BahiaLuxeVillage3
10-Unit Development
Ten 1,400 sq ft townhomes on 0.70 R3 acres.
What we're building
Bahia Luxe Village 3 is a strategic 10-unit townhome development on 0.70 acres of R3-zoned land. Land cost is $260,000 with a projected 37.3% ROI on $2,715,000 in total project cost. Each unit is 1,400 sq ft total with 1,200 sq ft under air, plus a 1-car attached garage.
R3-zoned, right next to the Walmart Supercenter — Walgreens, CVS, the middle school, the hospital, and every kind of store and restaurant on the same corridor. Ten minutes to Silver Springs State Park; fourteen to the historic downtown square.
What it could look like.
These are suggested concept renderings only. Final architecture, finishes, and elevations will be issued with the stamped plan set after the architectural and engineering phase.
- Interior concept · main level, open plan · finishes match the Innova materials catalog (shaker cabinets, light-gray granite, hickory LVP, subway tile)
- Furnished floor plan · 1st level (left) and 2nd level (right) · top-down 3D cutaway with the same Innova material palette · 1,400 sq ft per unit, 1,200 under air, attached one-car garage
- Streetscape concept · ten townhomes in two staged tranches with attached one-car garages
- Facade study · modern composition, R3-zoned multifamily massing
The details, end to end.
- Project Type
- 10-Unit Townhome Development
- Land Size
- 0.70 acres
- Land Cost
- $260,000
- Zoning
- R3 - Multifamily
- Unit Size
- 1,400 sq ft total · 1,200 sq ft under air
- Total Avg Project Cost
- $2,715,000
- Projected Sellout
- $3,925,000
- Projected Profit
- $1,013,750 ($101,375 per unit)
- Projected ROI
- 37.3%
- Timeline
- 17 months (1 yr 5 mo)
- Project Planning
- Innova Land and Development Planning
Where it sits.
Why this market.
- 01Prime location with excellent development potential
- 02Strong rental demand in Ocala market
- 03Excellent transportation access
- 04Growing professional demographic
What investors are funding.
- 3-bedroom, 2-bathroom townhomes
- Attached 1-car garage per unit
- Luxury waterproof vinyl plank flooring
- Granite countertops (kitchen & bathrooms)
- Shaker style wood cabinets
- Premium location with excellent development potential
Built for the next thirty years.
- Energy-efficient building design
- Modern HVAC systems
- High-performance windows
The math.
Land Acquisition
- Land Cost: $260,000 ($26,000 per unit)
- Land Size: 0.70 acres R3 zoned
Per-Unit Costs
- Lot: $26,000
- Architectural: $7,500
- Impact Fee & Permits: $15,000
- Construction: $168,000
- Water, Electrical & Sewer: $30,000
- Soft Costs & Contingency: $25,000
- Total Avg Cost: $271,500
Project Totals (10 units)
- Total Avg Project Cost: $2,715,000
- Total Sellout: $3,925,000 ($392,500 per unit)
- Less Real Estate Commissions & Closing Costs (avg.): $196,250
- Net Sellout (after commissions): $3,728,750
- Net Profit: $1,013,750 ($101,375 per unit)
- Projected ROI (net): 37.3%
Funding Structure
- Single investor finance: $2,715,000 covers the full 17-month project
- No bank construction loan — investor funds soft costs, land, permits, construction, and sellout
- Capital returns at unit closings; profit distribution at final closing
Timeline
- Architecture: 1-2 months
- Permitting: 4 months
- Construction: 8 months
- Sale: 4 months
- Total: 17 months (1 year 5 months)
What's selling nearby.
- Average
- $334/sf
- Range
- $301–$374
- Sample
- 7
- 01415 SE 1st Ave #103-B, Ocala1,202 sf2025Brick City Lofts, downtown Ocala townhouse, Phase 2 pre-construction20251,202 sf$449,000$374/sf$449,000$374/sf
- 022858 Leicester Ter, The VillagesPending1,178 sf2004Belmont Villas, turnkey furnished, near Southern Trace Plaza20041,178 sf$374,900$318/sf$374,900$318/sf
- 031052 Jackson St, The VillagesPending1,258 sf2005Woodlawn courtyard villa, water and golf-course view, no bond20051,258 sf$419,900$334/sf$419,900$334/sf
- 041110 Burnettown Pl, The VillagesSold1,132 sf2006Woodlawn villa, fully remodeled 2024–25, near Sumter Landing20061,132 sf$379,900$336/sf$379,900$336/sf
- 05870 Robles Ave, Lady LakeSold1,279 sf1998Expanded San Lucas villa, golf-front19981,279 sf$385,000$301/sf$385,000$301/sf
- 061314 Santa Rosa Ct, Lady LakeSold1,302 sf1994Villa De Laguna, Hacienda golf-course view19941,302 sf$399,000$306/sf$399,000$306/sf
- 073173 Archer Ave, The VillagesSold1,221 sf2000Somerset model, golf-front, salt-water heated pool20001,221 sf$450,000$369/sf$450,000$369/sf
How it builds.
- Capital
- $2,715,000
- Profit
- $1,013,750
Seventeen months from land close to handover, financed end-to-end by a single investor. Capital deploys against a defined schedule — land first, then design, then permits and site prep, then the construction draw, then the sellout. Sale proceeds return the full $2,715,000 of investor capital before any profit split.
- 01 · Land acquisitionMonth 1
- 02 · Architecture & engineeringMonth 2
- 03 · Permitting & site prepMonths 3–5
- 04 · ConstructionMonths 6–13
- 05 · Sellout & distributionMonths 14–17
- 01Month 1
Land acquisition
Close on the 0.70-acre R3 parcel on the Walmart corridor. With the land secured, the project clock starts.
First capital call: the full $260,000 land close. The land is the asset; everything that follows is built on top of it.
Deliverables- Recorded land deed
- Clean title commitment
- 02Month 2
Architecture & engineering
Architectural plans, civil engineering, and structural drawings tied to the site. Ten 1,400 sq-ft townhome units laid out within R3 setback rules. Full plan set assembled and queued for permit submittal.
Soft costs deploy for design and engineering against the secured parcel.
Deliverables- Architectural plan set
- Civil & structural drawings
- Permit submittal package
- 03Months 3–5
Permitting & site prep
Marion County reviews the full plan set; Innova handles every reviewer comment, resubmittal, and stamp directly. Building permits issued, impact fees paid, utility connections designed, and the site cleared and graded ready for vertical work.
Permit and impact fees deploy first; site prep and utility engineering finish the phase.
Deliverables- Approved building permits
- Impact fees paid
- Cleared and graded site
- Construction-ready package
- 04Months 6–13
Construction
Site prep, slab, cement-block walls with stucco, vertical framing, roofing and dry-in, mechanical/electrical/plumbing rough-in, and interior finishes (granite, luxury vinyl plank, shaker cabinets, tile). Ten townhomes are built in parallel on the 0.70-acre site under one GC contract.
Bulk of capital deploys monthly against the GC schedule. Each draw is inspected before release. Investors receive monthly construction reports with photos and draw documentation.
Deliverables- Monthly construction reports with photos
- Draw-inspection documentation
- Punch list & certificates of occupancy
- 05Months 14–17
Sellout & distribution
Listing, marketing, showings, and closings. Ten units are released in two staged tranches; comparable corridor demand supports a 6–8 month absorption window with first closings inside this period. Final operating expenses (commissions, closing costs, marketing) deploy from the last capital call or net out of sale proceeds.
Sale proceeds first return the full $2,715,000 of investor capital, then distribute the profit split per the operating agreement. Final accounting and the distribution wire happen at the last closing.
Deliverables- Closings on each unit
- Final accounting
- Capital return + profit distribution wire
One round trip for one investor. Capital goes in across the seventeen-month build, returns at the unit closings, and the profit distribution lands at the final closing.
- 01 · Capital deployed$2,715,000Months 1–17 · per phase allocations aboveEnd-to-end project financing — soft costs, land, permits, construction, sellout. No bank construction loan; investor funds the full 17-month timeline.
- 02 · Returned to investor$3,728,750= $2,715,000 + $1,013,750Months 14–17 · final at month 17
- Capital return$2,715,000Returned in full from sale proceeds before any profit distribution. Each unit closing pays down the investor balance pro-rata.
- Profit distribution$1,013,750Net profit (sellout $3,925,000 minus total project cost $2,715,000 minus real estate commissions and closing costs $196,250). Distributed per the operating agreement after capital return.
Built to last.
Every Innova home ships with a defined materials package — stone, flooring, cabinets, hardware, finishes. Specified once, documented once, applied to every unit on the site.
Counter Tops01Granite and quartz, polished and supplied as super-jumbo slabs.
Flooring02Luxury vinyl plank standard, polished marble porcelain on request.
Cabinets03Wood shaker, kitchen and bath, two colors only.
Shower Tile16Large-format polished marble-look porcelain, two veining options.
Single Hung Windows10Single-hung vinyl, four exterior colors, white interior.
Front Doors08Six-panel raised, four colors.
The full Innova Materials Catalog — sixteen chapters, every finish on every build, with the exact options available to investors and end-buyers.
See the materials catalog