5 apartments, one plot of land

[R.G. Pham]

Investment Info:

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

Purchase price: $485,000
Cash invested: $105,000

Built as a family complex, we renovated and updated to become a 5 unit: 2 top/bottom duplex styles homes and one single family home. One 3/2, one 1/1 and 3 2/1"s, and each apartment is unique.

How did you add value to the deal?

Added a new build and created two from one building, out of the three preexisting single family homes: Completely updated and performed all maintenance from home inspections and discoveries as we constructed one new build, separated two existing, and completely remodeled another existing.

What was the outcome?

Fully rented at slightly above market as the areas are very nice and close to town.

Lessons learned? Challenges?

Working with the right contractors: alot to be said here as we did all of this remotely.

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

Yes, Adam Clough Realtor and Construction A+++ quality and communication his company is JustASC