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- #37: New Opportunities in San Diego, Raleigh & Kansas City: Multifamily & House Hack Deals
#37: New Opportunities in San Diego, Raleigh & Kansas City: Multifamily & House Hack Deals
From Coastal San Diego to Growing Raleigh & Kansas City: Properties for Every Investor
Hello Investors,
Welcome to Dealsletter Issue #37! This week, we're showcasing properties in prime markets like San Diego, Raleigh, and Kansas City. From turnkey multifamily buildings offering immediate cash flow to house hack opportunities with short-term rental potential, these deals provide great options for boosting your portfolio.
Let's dive into the numbers and see how these properties can work for you!
π 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!
π¨ Note on Numbers: All calculations for investment properties are based on a 25% down payment and a current interest rate of 6.15%, unless otherwise stated. For house hacks, we assume a 5% down payment with PMI at 0.4% and a 5.7%(FHA) interest rate. We do the math so you can focus on what matters β the deals!
ππΌ Stay up to date: Whatβs the latest on mortgage rates?
π The Stats: Each listing comes with detailed investment metrics like cap rates, GRM, and special financing options where available.
This Weeks Deals ποΈ
Multi-Family in San Diego, CA
Property: Logan Ave, 5 Units
Cap Rate: 6.7%
House Hack in San Diego, CA
Property: Gamma St, 2 Units
Cap Rate: N/A (House Hack)
Multi-Family in Raleigh, NC
Property: Poole Rd, 8 Units
Cap Rate: 6%
Multi-Family in Kansas City, MO
Property: Grand Ave, 28 Units
Cap Rate: 7.5%
Multi-Family
Property: 3643-45 Logan Avenue, San Diego, CA
Price: $1,675,000
Units: 5 (2 x 1 Bed/1 Bath, 3 x 3 Bed/1 Bath)
Cap Rate: 6.70%
Why This is a Great Investment ππΌ This newly constructed 5-unit property is a low-maintenance, high-return investment in the heart of San Diego. With a 6.7% cap rate and a favorable financing option, it offers immediate positive cash flow. All utilities are separately metered, and solar panels add extra income. Additionally, the new construction units are exempt from rent control, creating long-term value and flexibility for future growth.
The Stats (25% Down) π
Gross Rent: $150,600/year
Total Annual Expenses: $36,094
Net Operating Income (NOI): $111,494/year
Cash Flow: Strong positive cash flow with modern amenities and potential value-add to older units.
Cap Rate: 6.7%
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House Hack
Property: 4096-98 Gamma St, San Diego, CA
Price: $930,000
Units: 2 (3 Bed/2 Bath, 2 Bed/1 Bath)
House Hack Potential: Yes (STR on 1 unit)
Why This is a Great Investment ππΌ Live in one unit and short-term rent (STR) the other to offset your mortgage. With a short-term rental average daily rate of $200 and a 70% occupancy rate, this property offers a strong opportunity for house hackers in San Diego. Located in a desirable area with easy access to amenities, the income potential from the second unit significantly reduces your out-of-pocket mortgage costs.
The Stats (5% Down) π
Gross Rent from STR: $4,200/month
Total Monthly Mortgage (after STR income): Approx. $3,700
Cash Flow: Neutral with the potential for positive cash flow depending on STR performance.
Cash on Cash Return: High return through short-term rental income.
Multi-Family
Property: 1600 Poole Rd, Raleigh, NC
Price: $1,250,000
Units: 8 (8 x 2 Bed/1 Bath)
Cap Rate: 6%
Why This is a Great Investment ππΌ This 8-unit multifamily property is a great value-add opportunity with below-market rents. Located just one mile from downtown Raleigh, the units offer significant upside potential. Six of the units have updated HVAC systems, and all units have washer/dryer hookups. With strong rental demand in the area and plenty of room for rent increases, this is an ideal property for investors seeking stable cash flow with growth potential.
The Stats (25% Down) π
Gross Rent: $101,568/year
Total Annual Expenses: Estimated at $26,568/year
Net Operating Income (NOI): $75,000/year
Cash Flow: Positive cash flow with immediate rental increases possible after unit upgrades.
Cap Rate: 6%
Multi-Family
Property: 3136 Grand Ave, Kansas City, MO
Price: $1,999,500
Units: 28 (5 x 1 Bed/1 Bath, 23 Studios)
Cap Rate: 7.50%
Why This is a Great Investment ππΌ This 28-unit building in Kansas Cityβs Union Hill neighborhood offers a strong 7.5% cap rate and steady cash flow. The property was renovated in 2017 and features a mix of studio and one-bedroom units with modern amenities. Located near Martini Corner and within minutes of downtown KC, this building offers high occupancy and a central, walkable location. The gated parking and updated systems make this property low-maintenance and highly attractive to tenants.
The Stats (25% Down) π
Gross Rent: $241,320/year
Other Income: $11,280/year
Net Operating Income (NOI): $150,497/year
Cash Flow: Strong positive cash flow with a high cap rate in a desirable location.
Cap Rate: 7.50%
Whatβs Brewing at Dealsletter βοΈ
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A Big Thank You! π
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