4 Plex in Adams Normandie near USC
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Los Angeles.
Purchase price: $980,000
Cash invested: $49,000 + renovation costs (to spruce up the vacant unit)
4 plex in Adams-Normandie near USC. Each unit is 3 bedroom + 1 bathroom. I'm moving into the vacant unit.
What made you interested in investing in this type of deal?
5% down financing and the size of each unit.
How did you find this deal and how did you negotiate it?
Through the MLS and the listing agent used to be my old office-mate.
How did you finance this deal?
Conventional 30 year loan @ 4.375%
How did you add value to the deal?
I intend to renovate the vacant unit.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Worked with Michael Abrams at RPM Mortgage. I am an agent so I was able to do a referral agreement with the buyer's agent to get a small bit of commission back to me.