Updated over 6 years ago on . Most recent reply
5 Unit MFH/Mixed Use Investment in Milwaukee
Investment Info:
Large multi-family (5+ units) commercial investment investment.
Purchase price: $120,000
Cash invested: $24,000
Added a 5 unit mixed use building to my portfolio by investing with a partner. 4 residential units and a commercial storefront. Purchased in a desired Walker's Point/5th Ward neighborhood considered to be up and coming in the Milwaukee market. Bought at a 11.5 CAP with under-rented units. This is my partner's first RE investment, and will be an absolute game changer when we get the building up to market rents!
How did you find this deal and how did you negotiate it?
I came across this deal while running comps for a wholesale deal - funny how things work out!
How did you finance this deal?
Commercial Loan
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Andrew Botzau from US Bank for the lending. Fast, responsive, & service oriented.
Most Popular Reply
@Niels Bjørn Toppenberg - Thanks Niels! After some capex updates, should be sitting between $1700-$1800. It’ll take some time to avoid complete vacancy but it’s exciting to look forward to.