Hagerstown Multifamily Investment
Investment Info:
Large multi-family (5+ units) buy & hold investment in Hagerstown.
Purchase price: $650,000
Cash invested: $120,000
13 unit multi-family with a vacant/gutted 14th unit. Plans to turn the 14th unit into laundry/storage in the near future to increase value and monthly cashflow.
What made you interested in investing in this type of deal?
Strong Cash-flow and high demand rental market.
How did you find this deal and how did you negotiate it?
Off-Market offering by listing agent.
How did you finance this deal?
commercial loan
How did you add value to the deal?
Converting the vacant/gutted 14th unit into laundry and storage facility. Re-modeling all units with new flooring and appliances. (cabinetry when necessary)
What was the outcome?
Strong cash flow (3600+/month) before 14th unit renovation.
