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Updated about 4 years ago,
Full Reno in Lily ponds DC
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Washington.
Purchase price: $1,000,000
Cash invested: $250,000
Luxury 2nd-floor apartment in Northeast DC, 2 blocks from metro. Pictures are an accurate reflection of the property. Housing Vouchers Welcome. 3 bed 1 bath fully renovated apartment in a fully renovated building, located in the neighborhood of Deanwood. The apartment features luxury plank flooring, new kitchen cabinets, stainless steel appliances, granite countertops, and in-unit washer/dryer. All units have also been equipped with new HVAC heat and AC systems. HUD housing vouchers/Section 8 we
What made you interested in investing in this type of deal?
Biggerpockets episode 365
How did you find this deal and how did you negotiate it?
Online search setup by realtor
How did you finance this deal?
conventional
How did you add value to the deal?
Improve sidewalk
What was the outcome?
positive cash flow 8.95 CAP rate
Lessons learned? Challenges?
Research local housing rules better.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes Kelly Kelly at compass