The Palm on Ray - 16 Unit Multifamily

[David Lilley]

Investment Info:

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

Purchase price: $1,780,000
Cash invested: $450,000

At acquisition, the rents at 100 W Ray Road were an average of $200 below market for a renovated asset.

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

Potential to add over 600k in value.

How did you finance this deal?

Bridge loan

How did you add value to the deal?

Renovating unit interiors and rebuilding storage units.

What was the outcome?

Currently achieving rents 25% over initial projections.

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

Lima One Capital and CBRE.