Turnkey Multifamily with High Cashflow in Future

[Joseph Salzillo]

Investment Info:

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

Purchase price: $360,000
Cash invested: $90,000

Another out of state investor client! This property has a lot of upside to it: rents are below market in each of the three units, each floor can get converted to a 3/1 from a 2/1 based on layout and SQFT, and there are 6 garages on the property getting rented out for $600/mo total. On top of that, the previous owner re-framed the porches, re-did the siding, put in new windows, a new roof, and new boilers in 2007 so the buyer's CAPEX is minimal in the near future. After converting each unit to a 3/1 and bringing the rents up to market between tenants, this property will gross $4500/mo in rents!