Toledo Multi-famly apartment (7 units)

[Ian Appold]

Investment Info:

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

Purchase price: $325,000
Cash invested: $20,000
Sale price: $395,000

This 7 unit was purchased as a buy & hold with a time line of 3 to 5 years in Toledo OH. Was a major opportunity for a value add and to add a cash flowing asset to the portfolio.

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

Networking with a broker and was able to buy it separately from the portfolio sale.

How did you finance this deal?

Cash offer

How did you add value to the deal?

Upgraded several of the apartment units by adding new flooring, paint and new bathroom tile.

What was the outcome?

Sold 3 years later for about a 20% return and used the proceeds from the sale in a 1031 exchange to upscale