15 Unit Multifamily Development

[Cassidy Burns]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $400,000
Cash invested: $405,000

Phase 2 of the Muhlenberg and Locust Development Project.

By-Right and approved site plan for 15 unit multifamily development project.

We will be developing this parcel over the next 18 months to bring 15 market rate units to Woodstock, VA. 2 bed/ 1 bath units for a long term hold for our portfolio.

What made you interested in investing in this type of deal?

Long term buy and hold development opportunity. Reduced basis with renovation and sale of SFH on the parcel.

How did you find this deal and how did you negotiate it?

Off Market

How did you finance this deal?

Purchased parcel of land cash. Investor/Partner and I.

How did you add value to the deal?

Will develop 15 unit multifamily on this site.

What was the outcome?

To start construction Q3 2026

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

BPG Real Estate