Four unit rental property on Pleasant Street

[David Beltz]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Chambersburg.

Purchase price: $151,995

This 4 unit, 2-story property located in the Chambersburg Borough is a must-see! Situated on an 18,000+ square-foot lot, each unit has 3 bedrooms, 1 bathroom, and washer/dryer hook-ups. Borough utilities are metered separately and paid by tenants. All appliances convey. Tenants mow the lawn and remove snow. $30,000 potential yearly income.

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

There was monthly cashflow at the asking value, but I saw a lot of potential in increasing the value of the property if I could get it at a deal.

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

My mother sent me the property and I met with my agent to view it. I wrote a letter trying to appeal to the seller and made an offer.

How did you finance this deal?

I am using the VA home loan.

How did you add value to the deal?

I will do cosmetic renovations to the property.