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Dealsletter Issue #5: The Multi-Family Edition

More Units, More Rent, Plus a Short-Term Surprise

Author

Kevin
October 30, 2023

Welcome to Dealsletter Issue #5! This week, we're all about multi-family properties—think more units, more rent, more potential. Dive in to discover properties that let you be the landlord of not just one, but multiple doors. Oh yeah, there is short term rental shoved in here as well.

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🚨 Our calculations are based on a 20% downpayment or more and take into account the current interest rate of 8.01% at the time of this newsletter. We've got the numbers covered!

Multi Family

$544,900

Triplex

Why this is a good investment 👉🏼 : This triplex property, located at 1202 E 99th Ave, offers a great investment opportunity with its low vacancy rates and desirable cul-de-sac location near USF and Busch Gardens. With individual electric meters and tenants responsible for electric costs, as well as separate laundry rooms for each unit, this income-producing property provides convenience and attractive features for renters. The option to convert a 4 bed / 2 bath unit into a 2 bed / 1 bath duplex further enhances profitability. With a cap rate of 9.15% and solid rental history, this triplex is a must-see for savvy investors looking to boost their income stream.

The Stats 📝

  • Cap Rate: 9.15%

  • Year 1 Cash-Cash Return: 5%

  • Annual Operating Expenses: $18,597

  • Net Operating Income: $41,378

  • Number of units: 3

Multi Family

$2,700,000

24 Unit Apartment Complex

Why this is a good investment 👉🏼 : The Gillham Park Apartments present a great investment opportunity due to their prime location in the heart of Kansas City, MO, with easy access to shopping, entertainment, and dining. With 24 renovated units and a high occupancy potential from vacationers, business travelers, and urban young professionals, the property offers a strong potential for rental income and a favorable cap rate of 8.23%.

The Stats 📝

  • Cap Rate: 8.23%

  • Annual Rental Income: $311,040

  • Annual Operating Expenses: $92,686

  • Net Operating Income: $222,175

  • Number of units: 24

Multi Family Rehab OR House Hack

$1,300,000

Four Plex

Unit mix: (1) 4 bed/2bath, (1) 2 bed/1 bath, (2) 1 bed/1 bath

Why this is a good investment 👉🏼 : This multiple unit property is an excellent investment opportunity or house hack due to its potential for expansion and increased rental income. With four rental units, including a large detached 4bd/2ba house, another detached 2bd/1ba house, and a duplex, there is ample space for comfortable living or renting out for additional income. The property's well-maintained interiors, good overall condition, and attractive statistics, such as a high cap rate and positive cash flow, make it a profitable and stable investment choice.

The Stats (for investment, 25% down) 📝

  • Cap Rate: 7.8%

  • Cash on Cash: 4.3%

  • Monthly Gross Rent: $13,535

  • Monthly Operating Expenses: $3,737

  • Monthly Net Operating Income: $8,444

The Stats (House Hack w/ 5% down) 📝

  • Gross Rent: $11,115

  • Vacancy(10%): $1100

  • Operating Expenses(includes taxes + insurance): $3,156

  • Mortage Payment: $9062

  • Effective Mortage for House Hack: $2,215

Short Term Rental

$255,000

3 bed / 2 bath / 1,355 sqft

Why this is a good investment 👉🏼 : This property in Rio Vista would make an excellent short-term rental due to its prime location, spacious and well-designed layout, and attractive features such as a covered patio, privacy fence, and high-quality finishes. With its desirable amenities and strong potential for cash flow, it presents a lucrative opportunity for investors in the short term rental market.

The Stats 📝

  • Cap Rate: 14.4%

  • 10 Year Return: $36.1%/yr

  • Monthly Revenue: $6,173

  • Year 1 Cash on Cash: 28.6%

  • Excellent Cash Flow Potential

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