64 unit in Johnson City, TN

[Duc Ong]

Investment Info:

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

Purchase price: $4,000,000
Cash invested: $49,000

Park Place is a 64 unit in Johnson City, TN.

🤝🏻The deal came through a direct to seller connection from our outbound marketing, for a purchase price of $4M. We were able to secure a $250,000 seller credit to help with the renovation budget.

🛠 We are partnering with Greenbrier Property Management to implement our business plan, which includes curb appeal improvements along with driving NOI growth through decreasing expenses and increasing revenue.

💰 The biggest upside to this deal is our plan to exit the Low Income Housing Tax Credit program. If successful, that should produce a sizable increase in value, since market value properties are worth significantly more.