Happy to see another person from the Pacific Northwest on-board.

My guess in 10 years it will gentrify, he is more optimistic.Technically there are 2 units and 3 floors but a few oddities:1st & 3rd floor are on the same electrical panel3rd floor was rented as a boarder apartment (full bath but no kitchen / currently no tenants)Cons include:major electrical work (federal pacific boxes need to be replace / upgrade from 60 to 200 amp service)water heaters are at the end of their life expectancy (2002 / 2004 respectively)Unit 1 floors need to be refinishedUnit 1 kitchen needs all new itemsPros:2 blocks away from NYC mid-town direct (40 min into NYC by train)1st floor is currently rented to a great section 8 tenant ($1,269 month total rent)Specspurchase price: $232,000 / $174,000 loanclosing costs: approximately $12,0007 total beds3 full bathstotal 2,136 sq ftbuilt in 1917last sold in 2003 for $87,000Monthly Expenses:insurance: $125landscaping: $100property management: ?

I have put in significant due diligence and, based on a myriad of reasons, high-density multi-family development on the site will be extremely difficult and very expensive based on the current zoning, the existing water and sewer and, most of all, an out-of-service Union Pacific railroad track. 

Pacific Heights", go rent the movie!

@Brent Ludwig Now, if you haven't already, find the movie "Pacific Heights" and watch it!

Full Article Here: Stockton Job Growth ProjectedA new economic forecast predicts the Stockton area will see some of Northern California's biggest job growth this year.Jeff Michael heads the Center for Business and Policy Research at the University of the Pacific.

I know the neighborhood association is working with the city and Union Pacific on making all the railroad crossings in my neighborhood "no horn" crossings which helps with the sound a lot.

Wednesday, May 30, 2018 4:00 PM Pacific, 7:00PM EasternSmall multifamily properties can be one of the best real estate investment vehicles, especially for those who are fairly new to real estate.That’s why this week Brandon, co-host of the BiggerPockets Podcast, will be dedicating an hour to this incredible niche.

That being said, I realize that in some markets / areas people don't really care (advertising is much different in the Pacific Northwest, than in the South, etc...the value of the landscape supersedes) so to each, their own on that.

Howdy all,
Just wanted to introduce myself to all the BP folks. I am not yet an investor but I hope to be able to purchase my first property in the next year or so. I have a background in Finance and have always bee...