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#33: Two Major Flip Deals and a San Diego Cash-Flowing Multi-family!

Flips to make your dream profit real—plus a San Diego multi-family property already bringing in cash.

Author

Kevin
September 11, 2024

Hello Investors,

Welcome to Dealsletter Issue #33! We’ve got some big opportunities lined up for you this week. Whether you’re into flips or looking for a cash-flowing multi-family, these deals will get your attention. We’re talking two prime flip projects in Walnut Creek with serious ROI potential, plus a multi-family property in San Diego with solid cash flow from day one. Let’s dive in!

🏠 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 6.5%, unless otherwise stated. For house hacks, we assume a 5% down payment with PMI at 0.4% and a 6.44% 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 🏘️

  1. House Flip in Walnut Creek, CA

  2. House Flip in Walnut Creek, CA

  3. Multi-Family in San Diego, CA

House Flip

Property: 2052 Mallard Dr, Walnut Creek, CA
Price: $995,000
Type: Single-Family Flip
ARV: $1,365,000
Rehab Costs: $71,500

Why This is a Great Investment 👉🏼 A perfect flip in the sought-after Larkey Park neighborhood of Walnut Creek! First time on the market in nearly 50 years, this single-story home sits on a nearly all-level 0.32-acre lot, offering plenty of room for value-add improvements. With 5 bedrooms, 2 baths, and great entertainment spaces, the potential is huge. Cosmetic updates have already been done, including new paint, carpets, and lighting, and the large backyard offers future possibilities for an outdoor kitchen or an ADU. Situated close to BART, downtown Walnut Creek, and local parks, this property is primed for a great return after renovations.

The Stats (Flip) 📝

  • Purchase Price: $995,000

  • Rehab Costs: $71,500

  • After Repair Value: $1,365,000

  • Total Profit: $167,642

  • Return on Investment: 99.2%

House Flip

Property: 15 Sutters Mill Ct, Walnut Creek, CA
Price: $1,199,000
Type: Duplex Flip
ARV: $1,815,000
Rehab Costs: $137,500

Why This is a Great Investment 👉🏼 This prime Walnut Creek duplex fixer-upper is ready for a transformation! One unit offers 2 bedrooms and 2 baths, while the other is a 2-bed, 1-bath layout, providing a fantastic opportunity to flip or create long-term rental value. Located near Walnut Creek’s vibrant downtown and nestled in a quiet neighborhood, this is a golden opportunity for any investor looking to make a strong return with a multi-family asset.

The Stats (Flip) 📝

  • Purchase Price: $1,199,000

  • Rehab Costs: $137,500

  • After Repair Value: $1,815,000

  • Total Profit: $310,728

  • Return on Investment: 150.8%

Multi-Family

Property: 3738-3740 Van Dyke Ave, San Diego, CA
Price: $2,995,000
Units: 11 (6 x 2 Bed/1 Bath, 5 x 1 Bed/1 Bath)
Cap Rate: 5.27%

Why This is a Great Investment 👉🏼 This 11-unit apartment complex in the heart of San Diego’s City Heights neighborhood is a cash-flowing investment with strong upside potential. Seven of the units have been remodeled, and the assumable 2.98% debt offers an opportunity to lock in low rates until 2025. With a mix of 1- and 2-bedroom units, on-site laundry, and ample parking, this property is perfect for an investor looking for long-term returns in a thriving area. Plus, proximity to University Ave and the new retail center in Fairmount Village adds even more value.

The Stats (Long-Term Investment) 📝

  • Gross Rent: $30,870/mo

  • Operating Expenses: $6,495/mo

  • Net Operating Income: $24,375/mo

  • Cap Rate: 5.27%

What’s Brewing at Dealsletter ☕️

  • Now 3x a Week!
    We’re increasing our frequency to three issues per week to bring you even more deals and insights. Stay tuned!

  • Premium Version Coming Soon!
    Get ready for a premium option featuring in-depth investment metrics and exclusive content. More details, more value!

  • More Properties in Each Premium Issue
    Our premium version will offer more properties per issue, giving you a wider range of investment opportunities.

  • Our Commitment
    We’re grinding out the best content and deals to help you succeed in your real estate journey.

A Big Thank You! 🙌

We're immensely grateful for our early subscribers. Your trust and engagement are the fuel that drives Dealsletter. We promise to keep delivering top-notch real estate insights and deals.

Until next time,

The Dealsletter Team