Multi- Family Unit Investment Outside of Pittsburgh , PA.

[Cahla Downs]

Investment Info:

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

Purchase price: $155,000

Cash invested: $40

Sale price: $179,000

Occupancy permit has been secured for the property from the City of Greensburg. Former mansion of its day with all original woodwork, fireplaces with modern conveniences, great location and rental history. Over time the building was turned into an apartment house with 4 units and a 5th unit under development. Also has a 2-bedroom single family home (SFH) with 2 bay integral garage as additional rental. Zoned commercial so you could have a business on the ground floor and collect rent from other units and SFH to pay all expenses. Over-sized lot for green space with off-street parking. Current owners has added new heating systems, windows, doors, electrical, security system and remodeled all units. The exterior of the building has been a work in progress. Apartment house breakdown ~ 1st floor: has 1-bedroom unit and a 2-bedroom unit under development, 2nd floor: big 2-bedroom unit, 3rd floor: 2-bedroom unit, ground floor at rear: 1-bedroom plus den unit.

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

Great character, location and opportunity for equity growth.

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

Verbal negotiation with realtor.

How did you finance this deal?

HELOC.

How did you add value to the deal?

Offering no sellers assist and waiving inspection contingency.

What was the outcome?

Offer accepted, currently in financing.

Lessons learned? Challenges?

The uncertain is the most difficult!