5 Unit Apartment Building in Vallejo, CA
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.