46% Cash on Cash Return – Mesa, Arizona

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Project details:

We purchased a four unit apartment complex in Mesa, Arizona in June of 2020 for $434,000.

We put $99,000 down and financed $335,000.

We spent about $55,000 on improvements such as paint, new hot water heaters, stucco repairs, roof and a/c, laundry appliances. etc.

We received an offer we couldn’t refuse for $600,000 and we closed in July of 2021. Our closing costs were about $40,000. Our cost basis was about $529,000.

Profit of $71,000.

Project info:

  • 4 Multi-Family Units
  • Mesa, Arizona
  • $434,000
  • $55,000
  • $600,000
  • 46%
  • $71,000