Petaluma, CA · Member since 2011 · 32 posts · 9 votes
I recently bought a 14 unit property in northern CA for $130,000. It was bank owned and most of the units were/are still un inhabitable. I am going through and fixing up each unit one at a time, and then renting them out. My plan is to hold the property for the long term for the cash flow, but I will be into it for $400k to $500k and fully leased at approx. a 9% cap it would be worth in the $750-$850k range. Here are some pics:
Petaluma, CA · Member since 2011 · 32 posts · 9 votes
11y
Not sure how to hyperlink, but Frank the insurance expense is astronomical in its current state...$750 a month until I get the whole property dialed in at which time I can get it down to around $3,000 annually. Its not in a floodplain.