Buy and Hold California 4plex

[Mickey Petersen]

Investment Info:

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

Purchase price: $650,000
Cash invested: $38,000
Sale price: $895,000

This property was in good condition when we acquired it. All but one unit was close to market rent. We did update two units once the original tenants moved out. This allowed us to get the current market rents. We also, installed drought tolerant landscaping to save on water and maintenance.

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

Off market Brought by agent

How did you finance this deal?

Conventional Financing

How did you add value to the deal?

The rents were low. When tenants moved out we updated the units. Typical stuff like flooring, countertops, vanities, etc. We also installed drought tolerant landscaping.