10+% ROI: Investing in Wallingford Small Multifamily Property

[Joseph Salzillo]

Investment Info:

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

Purchase price: $585,000
Cash invested: $234,000

Represented one of my buyers on this 3-family opportunity in Wallingford. The rents are incredibly strong for this property and is in one of the best conditions I've seen a small multifamily. There are 3 garages on the property rented for additional income, and this buyer is self-managing!

[Joseph Salzillo]

@Doug Spence Wallingford as a town is a fantastic B-class town with a mix of single fam and small multi properties. The town is actually on its own electrical grid and utilities tend to be the lowest in the state. Additionally, the real estate taxes are relatively low compared to other towns. This was actually an MLS deal; the property was listed too high of a purchase price (don't get me wrong, $585k is still high for the town), but it's in great shape and has strong rental income.