5 Unit Apartment Building in Vallejo, CA

[Dan Descalso]

Investment Info:

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

Purchase price: $500,000
Cash invested: $500,000

5 Unit apartment building in Vallejo, CA
2 one bedroom apartments on the first floor with attached garages and washer/dryer hook-ups.
2 studio apartments and 1 one bedroom apartment on the second floor with a shared laundry room.
Detached 600 square foot garage.
Current rents are $5,000 per month and still under market

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

I found this deal on the MLS within an hour of it being listed that night. I ran all of my numbers that night. I drove by the property at 9am the next morning to confirm it's good location and made a full price offer that morning. There were a total of 14 offers on the property, but my 10 day close and no inspections sealed the deal.

How did you finance this deal?

I pad cash for this deal, and will be refinancing it in the near future.

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

I represented myself on this deal as a licensed agent.