BRRRR 4Plex in Gravois Park STL

[Alex Bekeza]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Saint Louis.

Purchase price: $157,000

I just purchased this 4 plex in the Gravois Park area to BRRRR! 2 units are currently leased with the other two in need of full reno. We've budgeted $15,000 per vacant unit to completely revamp. Appraiser gave us an ARV of $235,000. Once fully stabilized and leased this bad boy will have a DSCR north of 3.0 in a great area! At that point we'll do a refinance into a 30 year fixed loan.

What made you interested in investing in this type of deal?

Value Add Opportunity, Huge Cash Flow Potential, and rapidly improving area.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Hard Money

How did you add value to the deal?

Will completely reno both vacant units (new floors, paint, fixtures, vanities, etc).

What was the outcome?

TBD, will up date post in a few months.