Side-by-side Moses Lake Duplex

[Lacey Hunter]

Investment Info:

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

Purchase price: $195,000

Side-by-side duplex with separate fenced yards and carports that is zoned such that it can be subdivided into two homes and sold or financed separately.

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

The ability to subdivide it; the up and coming neighborhood where its located; under market in place rents

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

Off market; MLRG agent was going to list it for another client and our agent showed it to us ahead of listing.

How did you finance this deal?

Conventional 30-yr fixed

How did you add value to the deal?

Both sides required new windows and a (cosmetic) gut rehab; will be completely finished by EOY 2022.

What was the outcome?

Highly successful; in place rents increased +60% since taking possession

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Jennifer Kron and the entire team at Moses Lake Realty are outstanding for support across the entire spectrum of services needed to purchase, rehab and rent out property across Grant County!