Updated 3 months ago on . Most recent reply
How/Why We Acquired a 10-Unit at 50% Occupancy
Investment Info:
Large multi-family (5+ units) commercial investment investment.
Purchase price: $740,000
Cash invested: $100,000
Deal Breakdown: 10-Unit Value Add – Roanoke, VA
Just closed on this 10-unit multifamily in Southwest Roanoke as part of a project we worked on inside our 90 Day Multifamily Sprint.
A few investors from the group partnered with us on the acquisition and went through the full process from underwriting to closing.
Deal Snapshot
Location: Roanoke, VA
Purchase Price: $740,000
Units: 10
Occupancy at Purchase: ~50%
Investor Capital Deployed: ~$100K
What made you interested in investing in this type of deal?
We focus heavily on workforce housing in secondary markets like Roanoke. This property had strong upside with low occupancy, below-market rents, and operational inefficiencies that could be improved through active management.
How did you find this deal and how did you negotiate it?
This was sourced through local relationships and direct conversations with owners in the area. The property had been struggling operationally, which allowed us to negotiate based on the stabilized potential rather than the current performance.
How did you finance this deal?
Traditional bank financing paired with investor capital. About $100K of investor equity was deployed at closing to support stabilization and improvements.
How did you add value to the deal?
Our plan focuses on:
• Increasing occupancy
• Renovating units as they turn
• Bringing rents closer to market
• Adding ancillary income (laundry, storage, parking)
Even small improvements across 10 units can move NOI significantly.
What was the outcome?
We just closed and are moving into the execution phase with renovations, leasing, and operational improvements.
This deal was also part of a project we worked through inside our 90 Day Multifamily Sprint, where investors partner with our team to go from deal analysis to actually closing on a property.
Lessons learned? Challenges?
Many value-add opportunities come from operational problems rather than physical ones. Deals with low occupancy and management issues can create strong upside if you have the systems to stabilize them.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes — this deal was sourced and executed through our team at Haven Management Group in the Roanoke / New River Valley market.
This project was also completed alongside members of our 90 Day Multifamily Sprint, where investors work through the process of finding, funding, & executing a deal.
