4-Family in Worcester for 1st Multifamily investment!

[Todd C.]

Investment Info:

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

Purchase price: $240,000
Cash invested: $100,000

Appraised value: $425,000

Purchased a 4-unit building in Worcester, MA. All 1-BR/1-BA units. Gut renovation on each one through a construction loan.

Rehab completed in late August (contractor did not pull certain permits, so the site got shut down for a few weeks).

Fully rented for October 1

Cash flow after all expenses: ~$1,000/month.