MF value add acquisitions

[Nitzan Mosery]

Investment Info:

Large multi-family (5+ units) commercial investment investment in Greensboro.

Purchase price: $9,800,000

built in 2001 this is a great asset. well maintained and nestled in a nice green corner in the path of progress in the inner city loop.
great value add. renovating interiors and raising rents over 125$

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

great location, great asset strong upside. cheapest asset in its class

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

great broker realtions

How did you finance this deal?

fannie

How did you add value to the deal?

cleaned up the exterior, added colorful flowers throughout to make the property pop. interiors we added subway tiles in the kitchen, painted the cabinets and added brushed Nickle handles, black appliances and great management

What was the outcome?

in one year the value went from 9.8m to 12m

Lessons learned? Challenges?

a great asset will reap great returns

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

yes