Investments in Salt Lake City (MFam)

[Wesley Hill]

Investment Info:

Large multi-family (5+ units) buy & hold investment in Salt Lake City.

Purchase price: $23,000,000
Cash invested: $8,500,000

132 units near SLC.

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

There is not better investment than MF

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

We found it through a logal broker, and we were 1031 buyers from a 156 deal in Salem, OR

How did you finance this deal?

Assumption of first (Fannie)

How did you add value to the deal?

It is only 6 years old, so other than pushing rents and other income, not much.

What was the outcome?

Increase of NOI of about $100K in two years

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

Yes, a local MF broker