14 unit Apartment building in San Leandro CA
Investment Info:
Large multi-family (5+ units) commercial investment investment in San Leandro.
Purchase price: $2,973,216
Sale price: $4,730,000
Apartment BRRR in Bay Area, CA
What made you interested in investing in this type of deal?
Goal was a million dollar profit
How did you find this deal and how did you negotiate it?
On market deal
How did you finance this deal?
Hard money
How did you add value to the deal?
Gut & rehab all units, W/D in unit, exterior renovations, landscaping, paint, security systems, new gate & signage, lobby, storage units, repaved driveway
What was the outcome?
Very close to class A rents
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Nick Myerhoff - agent
Conventus - Lender
Opus Bank - refi
I started a Bay Area Apartment Mastermind Group to answer some of the commonly asked questions + like minded folks
https://www.facebook.com/groups/learningapartments
Most Popular Reply
@Sri L. hi, sounds like a successful project...and good thing you got out before the SFTF, as now is not a good time to sell an appreciated bldg. not sure what you have in mind next, but I suggest that you post your questions here, so others can comment and/or learn from the discussion as well. I work mostly in San Francisco and on 2-4’s btw.