Voltaire cottages in Ocean Beach, SD, CA

[Kevin Miller]

Investment Info:

Large multi-family (5+ units) commercial investment investment in San Diego.

Purchase price: $1,200,000
Cash invested: $1,200,000
Sale price: $1,975,000

7 cottage units in Ocean Beach community of San Diego, brought in two major investors one of whom is Tony Hawk who surpassed 1B in sales of his video game while we held this asset.

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

Deal was held by US bank successor trustee for quick disposition and I got 500k off list price.

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

Broker brought to me

How did you finance this deal?

Cash money son

How did you add value to the deal?

increased rents from 1200 to > 2000 for a 400 sf, 1 bd cottage... it's the beach!

What was the outcome?

65%+ ROI

Lessons learned? Challenges?

Make sure your bookkeeping is top notch when you're dealing with multi multi millionaires

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

me