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- #35: Beachside Investments & High-Cap Deals!
#35: Beachside Investments & High-Cap Deals!
We've got an incredible BRRRR opportunity in Phoenix, and two cash-flowing multifamily properties in Imperial Beach, CA!
Kevin
September 16, 2024
In partnership with
Hello Investors,
Welcome to Dealsletter Issue #35! In this issue, we’re serving up some exciting opportunities, whether you're looking to add to your portfolio or make a move with a strategic house hack. We’ve got a prime beachside property just steps from the ocean, an ideal house-hack investment in Imperial Beach, and a solid multifamily in the heart of Phoenix for long-term cash flow. Whether you’re an experienced investor or just starting, there’s something here for everyone.
🏠 Share the Love: If you're enjoying the insights and deals, why not spread the word? Forward this newsletter to friends and fellow investors. Don't let them miss out on these golden opportunities!
🚨 Note on Numbers: All calculations for investment properties are based on a 25% down payment and a current interest rate of 6.14%, unless otherwise stated. For house hacks, we assume a 5% down payment with PMI at 0.4% and a 5.68%(FHA) interest rate. We do the math so you can focus on what matters – the deals!
👉🏼 Stay up to date: What’s the latest on mortgage rates?
📈 The Stats: Each listing comes with detailed investment metrics like cap rates, GRM, and special financing options where available.
This Weeks Deals 🏘️
Multi-Family in Imperial Beach, CA
Property: Evergreen, 3 Units
Cap Rate: 4.26%
Multi-Family or House Hack in Imperial Beach, CA
Property: Coastal Southbay, 5 Units
Cap Rate: 5.01%
Multi-Family in Phoenix, AZ
Property: Osborn Rd, AZ
Cap Rate: 6.47%
Multi-Family
Property: 204 Evergreen Ave, Imperial Beach, CA
Price: $1,549,000
Units: 3 (1 x 2 Bed/1 Bath, 1 x 1 Bed/1 Bath, 1 Studio)
Cap Rate: 4.26%
Why This is a Great Investment 👉🏼 This rare multifamily property is just steps from the beach, making it an ideal investment for rental income growth. With ADU potential in the detached garages, this is a prime opportunity for value-add improvements. Perfect for house hackers or investors looking for a beachside property with solid long-term rental upside.
The Stats (25% Down) 📝
Gross Rent: $8,225/month
Total Operating Expenses: Estimated at $2,107/month
Mortgage Payment: Approx. $5,377/month
Cash Flow: Positive cash flow of around $741/month
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Multi Family OR House Hack
Property: 613 Florence St, Imperial Beach, CA
Price: $2,279,000
Units: 5 (1 x 3 Bed/2 Bath, 4 x 1 Bed/1 Bath)
Cap Rate: 5.01%
Why This is a Great Investment 👉🏼 This fully remodeled property offers an incredible house hacking opportunity with a 3-bedroom front house and 4 back units. House hackers can live in the spacious front home OR one of the back units and cover most of the mortgage. For investors, this turnkey asset offers strong in-place rents with room for increases. Situated in a prime location in South Bay San Diego, it’s perfect for long-term stability and rental growth.
The Stats (Live in one of the 1BR units) 📝
Gross Rent (for 4 units): $11,500/month
Total Operating Expenses: Estimated at $4,066/month
Effective Mortgage Payment after all expenses: Approx. $3,661/month
Cash Flow: None (but significant mortgage coverage through rental income)
The Stats (25% Down) 📝
Gross Rent: $14,000/month
Total Operating Expenses: Estimated at $4316/month
NOI: Approx. $8284/mo
Multi-Family
Property: 844 W Osborn Rd, Phoenix, AZ
Price: $800,000
Units: 4 (3 x 2 Bed/1 Bath, 1 x 1 Bed/1 Bath)
Cap Rate: 6.47%
Why This is a Great Investment 👉🏼 A classic value-add opportunity in the heart of Phoenix. With an attractive 6.47% cap rate and significant rental upside potential, this property is perfect for investors looking to increase cash flow through renovations and rent increases. This property is centrally located with easy access to Midtown Phoenix and close to major employment centers.
The Stats (25% Down) 📝
Gross Rent: $6,100/month
Total Operating Expenses: Estimated at $1,500/month
Mortgage Payment: Approx. $3,000/month
Cash Flow: Strong
What’s Brewing at Dealsletter ☕️
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Until next time,
The Dealsletter Team