Hard to find size multi-family

[Tim Schmitz]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $750,000
Cash invested: $312,000

7-unit apartment building half a block from the beach. Running as a combination of long term rentals and AirBnB.

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

In trying to make the jump from single to multi-family property investing, I was having a real hard time finding a property in the right price range. Here in Charleston a 4-plex would come available from time to time, but nothing larger except major 100 to 500 unit complexes and that is just too big of a step for me right now. Then, this building popped up in St. Croix and the size and price was exactly what I was looking for.