House Hack & Duplex Value Add in Atlanta

[Scott Stayvas]

Investment Info:

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

Purchase price: $747,500
Cash invested: $130,000

Back in 2021 I jumped on a duplex that has 4BR/3BA on each side and is walkable to The BeltLine (an area popular with ATL's younger community). I immediately recognized that the listing agent/property manager had the current rent well below market & the asking price massively wrong. One unit was vacant at the time of purchase, so I was able to execute a House Hack followed up with some light rehab and eventually lease up the property.

How did you add value to the deal?

The property was dirty and needed a few updates to attract renters. I ended up putting in $20k for light cosmetic repairs, which then allowed me to bring rents up to market.

What was the outcome?

The property now cash flows $4,550/mo after all bills are paid. All utilities are split and are paid individually by the tenants.