SFH with accessory Dwelling Unit Build Out

[John Prucha]

Investment Info:

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

Purchase price: $350,000
Cash invested: $70,000

The goal at purchase was to house hack and convert the detached four car garage into a 2/1 ADU. Due to changing zoning rules with the city of Denver there was significant delay but they eventually approved the project and the project is underway. A construction loan was used to fund the project with relatively low interest rate of about 5.5% during construction.

Cash out refi: appraised at 600K and will be able to pull 62K out after fees.

[Chad New]

Great Work!!