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Dealsletter Issue #31: Unique Multi-Family Investments Across Concord, Austin, and Seattle

Explore High-Return Properties and Value-Add Opportunities in California, Texas, and Washington

Author

Kevin
September 06, 2024

Hello Investors,

Welcome to Dealsletter Issue #31! This week, we present a diverse range of multi-family investment opportunities across three dynamic markets: Concord, Austin, and Seattle. Whether you're looking for a turnkey investment, a value-add opportunity, or a house hack, we've got you covered. Dive into this week’s top picks and find the right property to enhance your portfolio!

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🚨 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. Multi-Family or House Hack in Concord, CA

  2. Multi-Family in Austin, TX

  3. Multi-Family in San Francisco, CA

Multi-Family or House Hack

Property: 1006 Court Ln, Concord, CA
Price: $1,450,000
Units: 3 (1 x 3 Bed/2 Bath, 1 x 2 Bed/1.5 Bath, 1 x 1 Bed/1 Bath)
Cap Rate: Estimated at 5.5%

Why This is a Great Investment 👉🏼 A rare opportunity to own a newly constructed income property with three separate homes on a premium 1/3-acre lot. This property is perfect for a house hack or a multi-family investment. Live in the main house while renting out the two additional units, or rent out all three for maximum income. Located near Walnut Creek and Concord, this property is ideally positioned near parks, trails, and shopping, with easy access to freeways and BART.

The Stats (House Hack, 5% Down) 📝

  • Gross Rent: $6800/mo (for 2 units rented, living in the junior add)

  • Total Operating Expenses: Estimated at $1,564/mo

  • Effective Mortgage Payment after all expenses: Approx. $4,896/mo

  • Cash Flow: None. Significant mortgage coverage through rental income

The Stats (Fully Rented, 25% Down) 📝

  • Gross Rent: $9,000/mo

  • Total Operating Expenses: Estimated at $2,500/mo

  • Net Operating Income (NOI): $78,000/year

  • Cash Flow: Strong, with low vacancy risk

  • Cash on Cash Return: 5.5%

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Multi-Family

Property: 15501 Farm to Market 1325 Rd, Austin, TX
Price: $1,175,000
Units: 4 (2 Homes + 1 Casita + Studio)
Cap Rate: Estimated at 5.2%

Why This is a Great Investment 👉🏼 This unique property offers four recently renovated structures with no zoning restrictions, allowing for diverse uses such as Airbnb rentals, retreats, or redevelopment. The property also comes with plans for a 14-unit townhome project, making it an excellent opportunity for investors looking for both immediate income and long-term development potential. Located on the Travis and Williamson county line, this property offers easy access to downtown Austin and the tech corridor.

The Stats 📝

  • Gross Rent: $8,200/month

  • Total Annual Expenses: Estimated at $45,000

  • Net Operating Income (NOI): $53,400/year

  • Cash Flow: Moderate, with future development upside

  • Cash on Cash Return: 5.2%

Multi-Family

Property: 1512 12th Ave S, Seattle, WA
Price: $2,095,000
Units: 7 (1 x 3 Bed/1 Bath, 2 x 1 Bed/1 Bath, 4 SEDU Units)
Cap Rate: 5.96%

Why This is a Great Investment 👉🏼 This brand-new, fully vacant 2024 construction in Beacon Hill offers investors the chance to lease units at market rates from day one. With a mix of unit types, covered parking, and high-end finishes, this property is well-positioned to attract quality tenants. The property is located minutes from Downtown Seattle, Lumen Field, and T-Mobile Park, offering easy access to major highways and public transit.

The Stats 📝

  • Gross Rent: $13,345/month

  • Total Annual Expenses: $27,304

  • Net Operating Income (NOI): $124,829/year

  • Cash Flow: Moderate, with potential for strong returns once fully leased

  • Cash on Cash Return: 5.96%

What’s Brewing at Dealsletter ☕️

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A Big Thank You! 🙌

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Until next time,

The Dealsletter Team