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- Dealsletter Issue #28 Cash Flowing Multi-Family Deals: Tampa, Kansas City, and San Francisco
Dealsletter Issue #28 Cash Flowing Multi-Family Deals: Tampa, Kansas City, and San Francisco
Fresh investment properties: High returns, strong locations.
Kevin
August 30, 2024
In partnership with
Hello Investors,
Welcome to Dealsletter Issue #28! This week, we're spotlighting a variety of multi-family investment opportunities, from cash-flowing properties in Tampa, Florida, to promising units in Kansas City, Missouri, and San Francisco, California. Whether you're looking for a turnkey rental, a value-add opportunity, or a high-cash-flowing asset, we've got something for every investor. Let’s dive into this week's deals!
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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!
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📈 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 Tampa, FL
Property: 11th St, 2 Units (Low Barrier of Entry!)
Cap Rate: 7.34%
Multi-Family in San Leandro, CA
Property: 41st Ter, 5 Units
Cap Rate: 6.50%
Multi-Family in San Francisco, CA
Property: 26th Ave, 6 Units (FIVE Vacant!)
Cap Rate: 7.72%
Multi-Family
Property: 9410 N 11th St - University Lofts, Tampa, FL
Price: $390,000
Units: 2 (Each Unit: 2 Bed/1 Bath)
Cap Rate: 7.34%
Why This is a Great Investment 👉🏼 This turnkey duplex in Tampa is a solid choice for investors seeking immediate cash flow. Each unit is leased at $1,600 per month, with tenants paying their own utilities. Recent renovations, including a new roof, AC, flooring, and appliances, reduce future maintenance costs. Close to major highways, USF, and local attractions, this property is perfectly situated for consistent rental demand.
The Stats 📝
Gross Rent: $38,400/year
Total Annual Expenses: $9,774
Net Operating Income (NOI): $28,626
Cash Flow: Strong with professional management
Cash on Cash Return: 7.3%
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Multi-Family
Property: 1109-1115 W 41st Ter, Kansas City, MO
Price: $1,139,527
Units: 5 (1 x 2 Bed/2.5 Bath, 4 x 2 Bed/1 Bath)
Cap Rate: 6.50%
Why This is a Great Investment 👉🏼 This 5-unit building in Kansas City has been fully renovated, featuring new kitchens, bathrooms, flooring, and more. With 100% occupancy and gross rents of $109,800 per year, this property offers reliable income with modern amenities. Situated in a desirable area, it’s ideal for investors looking for a stable asset with potential appreciation.
The Stats 📝
Gross Rent: $109,800/year
Total Annual Expenses: $31,531
Net Operating Income (NOI): $74,069
Cash Flow: Moderate with long-term tenants
Cash on Cash Return: 6.5%
Multi-Family
Property: 880 26th Ave, San Francisco, CA
Price: $2,392,920
Units: 6 (All 1 Bed/1 Bath)
Cap Rate: 7.72%
Why This is a Great Investment 👉🏼 Located in San Francisco's Central Richmond district, this 6-unit building offers a unique opportunity with five units currently vacant, allowing for immediate rental potential. The property has been well-maintained and seismically retrofitted in 2023, minimizing future costs. Steps away from Golden Gate Park and local dining, this is a high-demand area for renters.
The Stats 📝
Gross Rent (Pro Forma): $244,800/year
Total Annual Expenses: $45,413
Net Operating Income (NOI): $184,069
Cash Flow: Strong with potential for increased rents
Cash on Cash Return: 7.7%
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Until next time,
The Dealsletter Team