LoNo Mixed Use Building

[Kayla Forsythe]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $680,000
Cash invested: $244,000

Mixed use building with 2 commercial spaces on the main floor and 7 apartments above. Conventional financing with 30% down, 5% interest, 20 year loan. Major renovations the first year with plans to do more.

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

Great location and multiple streams of revenue with commercial and residential units.

Lessons learned? Challenges?

This is the property where we learned how to budget for renovations!