104 Franklin st apartments

[John Janoski]

Investment Info:

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

Purchase price: $55,000
Cash invested: $100,000

Currently renovating this 4 unit. Unit #1 is gutted and unit #4 is almost complete. Looking to take out equity to finish renovations on unit #4.
$4800 cash flow is projected when the final 2 units are rented. The property currently brings in $2150 with the smaller 2 units rented.
Currently have $100,000 invested, $75,000 additional is needed. With an ARV of $325,000 with comparable properties/cash flow.