Real Estate Broker · Sierra Madre, CA · Member since 2015 · 72 posts · 22 votes
HI -
I am looking for a multi-family apartment building up to 5 million! My investor is paying all cash for the property and is credible as he is my father-in-law. He owns a 15 unit in Van Nuys and wants to add to his portfolio.
Hi @Scott Winnie. Is your investor interested in multi-family apartments in Pasadena or Altadena, CA? Also, is he interested in development/refurbish opportunities?
HI Charlotte - My investor is most definitely interested in multi - family, refurbish, development most exclusively in Pasadena or Altadena. He would prefer them in these markets. Do you have anything I can take a look at. Thanks!
I'm sorry about the delay in replying, but I'm just getting back to my BP mail. I do not have anything at this moment, but I am actively looking for parcels zoned for more units than it is currently being used, but the property is being sold at the lower unit price; i.e. SFR for sale that is zoned for 3 or more units. The plan is to add the extra units, thus increasing the ARV.
I recently read an article which stated that the City of Pasadena is actively working to increase density. So this is a good time for this type of project. I also feel many of the multifamily units in Pasadena need updating from their current decor, which also allows opportunity to increase the value of existing units by simply refurbishing them.
I am working with a realtor to assit in finding deals (as I have a full-time job and limited time), and whose company also does construction. I hope to have an appropiate project soon.
What are your requirements? What is your LTV? Thank you for keeping me in mind.