SW Oklahoma City Duplexes

[Nicholas Utesch]

Investment Info:

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

Purchase price: $260,000
Cash invested: $65,000

2 Duplexes in SW Oklahoma City in the Moore School District. Purchased both duplexes for a combined total of $260,000 ($130,000 per duplex). Haven't updated anything in the property (slightly dated) but the cash flow is pretty good--$750 per month (which is below market value) per unit so this returns $3,000 per month.

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

The numbers made sense. Great purchase price for 2 duplexes ($260,000 for both--That works out to $130,000 per duplex). Location is good--in a desireable school district (Moore Public Schools) and convenient to shopping areas

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

Thru a local real estate agent

How did you finance this deal?

Thru a 75% LTV commercial loan

What was the outcome?

Units have been consistently full. Not too many repair issues.