Exploring Hidden Potential: Chandler David Smith's 8-Unit Apartment Complex Tour
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In this thrilling episode by Chandler David Smith, we embark on an exhilarating journey through an 8-unit apartment complex secured through a jaw-dropping seller financing deal at a mere 3%. The adventure begins with a chance discovery on the MLS, where the property's seemingly undervalued status piqued our interest. What appeared as a diamond in the rough soon revealed its hidden charm and potential for greatness.
As our fearless host guides us through the property, we witness the need for crucial renovations, from window replacements to gravel parking upgrades and stair repairs. The property's sturdy stone foundation and individual utilities offer a glimmer of hope amidst the necessary improvements. With loft apartments boasting current rents of $500-$600, the promise of higher returns looms on the horizon.
The crown jewel of this property emerges in the form of a spacious unit, currently rented at a modest $850 but harboring the potential to command a princely sum of $1,200-$1,500. As financial projections paint a picture of a 13.98% cash on cash return at current rates, the tantalizing prospect of over 18% at market rates sets our pulses racing. With seller financing terms as favorable as these, the investment opportunity shines brighter than a polished gem.
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Image copyright Youtube
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3% makes it a smoking deal
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Finding deals on MLS
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Insuring properties for 4plexes
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