Hagerstown Multifamily Investment

[Edward Holland]

Investment Info:

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

Purchase price: $650,000
Cash invested: $120,000

13 unit multi-family with a vacant/gutted 14th unit. Plans to turn the 14th unit into laundry/storage in the near future to increase value and monthly cashflow.

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

Strong Cash-flow and high demand rental market.

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

Off-Market offering by listing agent.

How did you finance this deal?

commercial loan

How did you add value to the deal?

Converting the vacant/gutted 14th unit into laundry and storage facility. Re-modeling all units with new flooring and appliances. (cabinetry when necessary)

What was the outcome?

Strong cash flow (3600+/month) before 14th unit renovation.