Englewood apartments that allow for mix of medium and long term rentals

[Tyler Nelson]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,470,000
Cash invested: $1,470,000

These apartments were mostly renovated. A 6-unit interior walk up apartment located less than half a mile from Swedish Medical Center and Craig Hospital. Three of the six units are operating as furnished units with opportunity to convert the remaining three units in order to dramatically increase revenue.

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

Great value in the area, lots of investments, great walking potential, fully renovated with a good cap rate. There are still opportunities though for small improvements that can have a big impact on cashflow.

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

Found this deal on Crexi, saw it the next day and found a partner that could allow for an all cash purchased. Utilized a personal friend who was more familiar with the area and also an agent just to sanity check the deal.

How did you add value to the deal?

Smart locks to make management easier, added recycling, and am going to do some general refreshing in the yard.