Just Sold! 6-unit building in Fort Lauderdale, FL
Investment Info:
Large multi-family (5+ units) fix & flip investment in Fort Lauderdale.
Purchase price: $668,000
Cash invested: $285,000
Sale price: $945,000
We purchased this building in July 2020. We had planned to buy & hold. As the tenants left, we renovated each unit one by one. We then found amazing new tenants who paid much higher rents. Since the market is so hot here in Fort Lauderdale we figured we would put it on the market to see what happens. We got the number we wanted and sold October 2021. We are now completing a 1031 exchange and looking for 2-3 new properties.
What made you interested in investing in this type of deal?
I am a Realtor in this area and always keep an eye out for a great opportunity!
How did you finance this deal?
Commercial loan 40% down.
