Twelve-Twenty at Brooklyn Yard

[David Marshall]

Investment Info:

Large multi-family (5+ units) fix & flip investment.

Purchase price: $2,100,000
Cash invested: $1,550,000
Sale price: $5,350,000

Purchased 1970s apartment complex, consisting of 32 units (12-1x1s & 20-2x1s) located 2 blocks from Florida A&M University. Added a second bathroom to the 2BR floor plan to create bathroom parity and added washers/dryers to all 32 units. upgraded electrical and plumbing. The renovation took 9 months. Increased rent roll from $17,250 to $34,600. Exited by selling to Florida A&M.

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

Marcus & Millichap Broker's pocket listing

How did you finance this deal?

AmerisBank