Updated over 2 years ago on .
119 park avenue renovation
Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $21,500
Cash invested: $90,000
Sale price: $165,000
Buy and hold, $110,000 invested, new value $165,000. Gross rent $2800 per month.
What made you interested in investing in this type of deal?
My area has a serious lack of rental inventory, many buildings have great value add potential with solid rents.
How did you find this deal and how did you negotiate it?
Local auction
How did you finance this deal?
Cash out of pocket
How did you add value to the deal?
A full renovation, brand new finishes and mechanicals.
What was the outcome?
$75,000 value add with $2800 in gross rents
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No
