Looking for +/-50 unit Multifamily

[Ian T.]

Hi All,

I currently have 13 units spread across 3 buildings in Albany NY and I'm about to enter into contract to sell a vacation home rental property that I own in eastern Long Island, looking to do a 1031 exchange into larger multifamily. I live in NYC and I'm priced out of the market, looking for cash flow elsewhere as Albany has limited supply and larger multifamily is non-existent. As most are aware, the NYC market is not kind to cash flow seekers.

Please let me know if you have or are aware of any 20 to 50+ units available with the following criteria:

Price: +/- 2MM

Property Type: +/- C, B

Neighborhood: C,+/- B 

Location: I am open to location and have started researching Ohio (Columbus and Cleveland)

Number of units: +/- 50

I am open to value add plays. 

I have the ability to raise the budget to 3MM for the right deal.

Thanks!

Ian Toth

[John Cohen]

@Ian T. Love Columbus, OH! I own a 48 unit there now. Just went through a big rehab and looking to buy more in the market.