- Real Estate Agent
- Votes |
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $231,000
Cash invested: $58,000
Commercial loan triplex purchase in central CT with partners! This one brings in $2,915/mo in gross income with roughly $700/mo pure cashflow after mortgage PITI, property management, maintenance, CAPEX, and 8% estimated vacancy; pro forma 14.5% cash on cash return.
How did you finance this deal?
80% LTV Commercial loan amortized over 30 years
How did you add value to the deal?
The property is currently being stabilized by removing non-paying tenants and upgrading each unit with newer finishes. Proforma rents with updated finishes are projected to be $3,100/mo