San Diego Six Multi-Family Figure Return Flip

[Josh Zimmerman]

Investment Info:

Small multi-family (2-4 units) fix & flip investment in Saint Rose.

Purchase price: $1,090,000
Cash invested: $120,000
Sale price: $1,700,000

Sourced property off-market January 2022 at $1,090,000. Once completed ADU garage conversion plans to add another unit to the duplex, listed property on the market sourcing an all-cash offer at $1,700,000. Total capital invested $1650,000. ($110,000 down payment 10%, $50,000 ADU plans, estimated $10,000 holding and closing costs.) Net profit roughly $1,450,000.

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

Location and high upside return with ADU conversion and rehab.

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

Off-Market

How did you finance this deal?

Conventional %10 down

How did you add value to the deal?

Complete ADU Conversion Plans

What was the outcome?

Flipped property without having to do any rehab or construction costs.

Lessons learned? Challenges?

Communication is very important with tenants