67 Unit Multifamily - Dallas, Tx

[David Lilley]

Investment Info:

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

Purchase price: $4,800,000
Cash invested: $1,200,000

Qualified Opportunity Zone Fund
Hold Period: 7-10 years
Return of Capital: 100% return of capital by year 3 via cashout refinance
Target IRR: 18.43%
Day 1 Cash Return: 12%+

2120 52nd St. was extensively renovated in 2017 with $3,200,000 in capital improvements reported. Residents have access to onsite laundry facilities, onsite property management, and controlled access gate entry for privacy and security.

Valued at $5,350,000 in 2017, this is a great opportunity to acquire a stabilized asset below replacement cost and below market value (under contract at $4.8mm) with day one cash returns over 12%.

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

High in-place yield

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

Off-market through industry contacts.

How did you finance this deal?

Freddie Mac SBL