11.2% Return: Bristol CT Multifamily Rental Property

[Joseph Salzillo]

Investment Info:

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

Purchase price: $225,000
Cash invested: $86,250

Congrats to my client for securing his first out-of-state investment property! This is a Bristol, CT 3-unit with an 11.2% cash-on-cash return: 25% down payment 30-year commercial loan at 5.7% interest, $15k closing costs, $15k repair cost to refurbish Unit 2 and clean up the common spaces. This 3-unit will bring in roughly $3,100/mo gross rents and will be a great buy-and-hold investment with Ironclad Management operating the property.