Another Southern California Buy and Hold

[Mickey Petersen]

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $1,625,000
Cash invested: $698,750

Purchased this property as part of a 1031 exchange. We sold 2.2 million worth of propterty. this is 2/3 of the replacement value. This is a buy and hold. No major work needed to start. We have already had 3 units move out which has aloud us to raise rents on this units. Because this is a commercial loan we were required to put 43% down which makes it cash flow roughly $1000 a month. There is also a space large enough for an additional ADU if and when we decide to do that.