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.
- 4 Multi-Family Units
- Mesa, Arizona