El Sereno Diamond in the rough

[Estela L Solano]

Investment Info:

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

Purchase price: $670,000
Cash invested: $167,500

Bought it, did a $50K renovation and rented in 4 months

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

Property was a perfect match to accommodate 2 units as it had 2 separate entrances, 2 driveways and 2 AC units
In an up & coming LA neighborhood

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

I continuously look at new listings

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Did a an interior/exterior renovation with updated fixtures, lighting, appliances and current trend paint palette

What was the outcome?

It was exactly what I expected and then some!

Lessons learned? Challenges?

Patience and attention to detail