3 unit Residential Investment Property

[Eric German]

Investment Info:

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

Purchase price: $565,000
Cash invested: $45,000

Three-unit multi family residential property with long term section 8 tenants.
$20k / yr net income.

Property sold in March 2023 with a profit of $150k

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

Adding to my portfolio and adding extra income

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

I found it through Zillow and through my realtor. With the help of my mentor, I was able to negotiate the price and was able to get the seller to credit $10k in cash which was used for additional reserve / repair funds.

How did you finance this deal?

FHA loan

How did you add value to the deal?

- In two units we remodeled both the kitchen and the bathroom.
- In the third unit, we remodeled the bathroom.
- Replaced two water heater tanks that
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