Mayfair Multi Family Apartment Hold (Denver, CO)

[Terrance Doyle]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $2,425,000
Cash invested: $288,000

• 16 unit apartment building purchased from a distressed seller in May 2018 for $2,425,000
• Renovation cost: $288,000 in cosmetic updates to each unit, roof, carport and exterior appeal
• Scope: Added 2 additional two-bedroom apartments, and fully renovated each unit, increasing rents by 60% over an 8 month period
• Projected Net Profit: $600,000