303 Hardy Apartments
Investment Info:
Large multi-family (5+ units) commercial investment investment in Nederland.
Purchase price: $630,000
Cash invested: $170,000
14 units
Class B
~$1,800 cashflow after mortgage
Finished re-position Oct. 31, 2019.
Currently on final rent increase cycle.
What made you interested in investing in this type of deal?
Good location
How did you find this deal and how did you negotiate it?
Driving for dollars and mailed owner
How did you finance this deal?
Local credit union
How did you add value to the deal?
Upgraded interiors and exteriors and raised rents and decreased expenses
What was the outcome?
Fully occupied and rents increased on average ~$75 per unit.
