620 Tahoe Street - Co-living House

[Chris Foti]

Investment Info:

Large multi-family (5+ units) fix & flip investment.

Purchase price: $410,000
Cash invested: $150,000
Sale price: $665,000

This asset was purchased along with a multifamily community as it was on the neighboring parcel. It was initially a single family home that was renovated and turned into a co-living multifamily asset. Once renovations were complete, we had 5 separate units to rent.

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

We were interested in the larger multifamily project, but this was included as part of the deal.

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

It was sold with another multifamily community we purcahsed.

How did you finance this deal?

Hard money loan.

How did you add value to the deal?

Renovation and turned from Single-Family home to 5-Unit co-living community.

What was the outcome?

Sold for a gain

Lessons learned? Challenges?

Co-living is challenging.