Just sold the second of our Fund 1 deals: 2514 London St., a fourplex just south of the 101 in Westlake / HiFi
This one was pretty good, though not nearly as good as our 1947 Clinton deal.
- In for around $850k
- Took in cash of approx. $20k during ownership
- Sold for $1,150,000
- Net profit of around $240k on $850k
- ROI of 28%, in 14 months
I’m proud to report that the new owner is keeping us on to manage the property*, so nothing will change for the residents or the neighbors. As usual, we’re sad to see the property go, but happy for the new owners and our investors.
*I’m kind of surprised when people don’t keep us on… after all, we know the property better than anyone, we got the rents in the first place, we can easily force vendors to come back and fix any warranty issues, and we want to keep people who buy from us happy!