Updated over 2 years ago on .
60 unit active adult community
Investment Info:
Large multi-family (5+ units) buy & hold investment in Old Saybrook.
Purchase price: $7,250,000
Cash invested: $3,500,000
60 unit apartment complex purchased off market from same owner of 20 years
What made you interested in investing in this type of deal?
Newer construction and upside with rents
How did you find this deal and how did you negotiate it?
Broker found it off market
How did you finance this deal?
Non recourse Fannie
How did you add value to the deal?
Light renovation
What was the outcome?
Increased NOI by 25%
