I got a deal for a multi family home which has 6bds, 3baths for $215k near Hapeville GA/Hammond Park close to the ATL airport. Each unit has 3 beds 1.5bath currently renting at $1050 a month with tenants currently in them. This property was bought 2 years ago for 80k and rehabbed and now being rented out. This is my analysis on the property below:
That’s awesome man! I’m still a rookie, but do you think Repair estimates are a bit low considering it’s 3 units? Either way, it looks like you have plenty of cushion, with the amount of cash flow ($160 per door).
how did you find it and how are you funding it?
I’ve been looking in that area for a small multifamily. But I won’t be ready to close on anything until the end of the year. I plan to house hack.
Hapeville is a great rental market, so I think that you'd end up doing pretty well on this one. I am not sure the condition of the property, but I would anticipate that you could get those rents up a touch ($1099 or so).... that would obviously be determined by the quality. The units that we lease up in that area do not sit for long at all.