Small Multifamily Deal with Condo-Style Exit Strategy (Seeking Partners)
Looking to connect with a few serious investors on a unique value-add opportunity I’m currently working on.
We’re evaluating a 6-unit multifamily asset in a highly supply-constrained coastal market with strong in-place cash flow and a clear path to value creation. The business plan is centered around a strategic unit-by-unit sale, allowing us to capitalize on the premium between bulk multifamily pricing and retail-level exits.
The deal is stabilized with strong rents (~$5.8K/unit avg) and sits just steps from the water in one of the most desirable submarkets in the country.
We’ve underwritten this conservatively with exit pricing below current comps, while still targeting:
• ~1.5–1.7x equity multiple
• High IRR on a short-term hold
• Strong spread between acquisition basis and retail exit
We are targeting approximately $2M in equity to execute the business plan and are currently building relationships with investors interested in this type of strategy.