February Boston BRRRR

[Willie Mandrell]

Investment Info:

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

Purchase price: $650,000
Cash invested: $200,000

This is a February BRRRR. Triple-deckers abound in the Boston neighborhood of Dorchester. This is 20 Corona St., built in 1910, is the most recent addition to my portfolio of buy and hold rental properties. The first floor was owner occupied for over four decades, and the top two floors had been vacant for many years at the time of acquisition. The purchase price was $650,000. With little structural work needed, the $200,000 renovation budget will mostly be dedicated to completely updating the kitchens and bathrooms, refinishing the existing hardwood floors, removing wallpaper and interior painting, replacing windows and repairing the back decks. The trash removal crew will need to take special care of the asbestos covered original boilers. Pictures show condition at purchase, stay tuned for updates!