"smallish" large multifamily/mixed use

[Kevin D.]

Investment Info:

Large multi-family (5+ units) other investment.

Amazing but aged mixed use building just a few miles off highly desired "Mass Ave" and at the edge of fantastic Woodruff Place neighborhood. Project includes electrical rewire, new roof, residential upgrades, and commercial whiteboxing and leasing.

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

Entrance into partnerships, multifamily, and out of state investing.

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

Through a rockstar local broker

How did you finance this deal?

Cash purchase, LOC lending for rehab, followed by refi.

How did you add value to the deal?

Increasing experience through partnership with dynamic skills and backgrounds. Inserting strong property management to improve tenant base and reduce vacancy. Filling premium units with commercial tenants. Rehab/upgrades to increase NOI.

What was the outcome?

In progress

Lessons learned? Challenges?

Stay tuned!

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

Mainstay Property Group
First Merchant Bank