This property is a 2-unit, we cash flowed from day 1 and secured permits to start construction to build 2 additional unit. We are currently wrapping up rough plumbing and electrical and expect to have this leased up by January 2025. The plan is to continue to hold this long term.
Financials
- Purchase Price: $505,000
- Construction Cost: $325,000
- Exit Value: $1,550,000
- Monthly Cash Flow: $6,600
Returns:
Investor Cash on Cash Return (Stabilized):
- Year 1: 9.6%
- Year 2: 10.1%
- Year 3: 10.7%
Investor Equity Multiple: 2.07X
Notes:
- Debt 100% Guaranteed by Adit
- No management fee, no acquisition or disposition fee, no developer fee
- All capital contributions are returned to investors before profit is split