Updated about 4 years ago on .
64 unit in Johnson City, TN
Investment Info:
Large multi-family (5+ units) commercial investment investment.
Purchase price: $4,000,000
Cash invested: $49,000
Park Place is a 64 unit in Johnson City, TN.
🤝🏻The deal came through a direct to seller connection from our outbound marketing, for a purchase price of $4M. We were able to secure a $250,000 seller credit to help with the renovation budget.
🛠 We are partnering with Greenbrier Property Management to implement our business plan, which includes curb appeal improvements along with driving NOI growth through decreasing expenses and increasing revenue.
💰 The biggest upside to this deal is our plan to exit the Low Income Housing Tax Credit program. If successful, that should produce a sizable increase in value, since market value properties are worth significantly more.
