Property # 6

  • 3-Unit Multi-Family
  • Listed Price: $390,000
  • Purchase Price: $340,000

Property Summary

  • The property acquired is a 3-unit building with 10 total bedrooms between them. With 3-full apartments that can be rented out at a premium during the weekends and 10 total bedrooms that can be rented out during the week, we expect to see high occupancy and solid performance throughout the year.
  • This property features special multi-use zoning which allows for short-term rentals. This is quite key in many cities, as it is part of the challenge in many markets to find a residential property in a good condition in the proper zoning.

  • This property also features a parking lot for the guests behind the house, which is quite key as many guests arrive here by car.
  • Although the neighborhood itself is a B- type, the location is less than 30 minute walk away from downtown; as well as minutes to restaurants and bars in the area. While it will not be a luxury, high-end property due to the location, it’ll still provide a strong return given the low purchase price.

Launch Costs

Category                                            Expenses 

Closing Costs                                       $10,155
Seller Credit                                          $7,750
Renovations                                          $36,780
Furnishing                                             $24,056
Pre-Launch Costs                                $8,220
Legal Costs                                          $4,906


No items found.

Work performed

When we acquired the property, the sellers have already begun and completed much of the gut renovation. The quality wasn’t great and they didn’t do much work on the third floor, but it still allowed us to get a head start..


We have renovated the third floor, added linen closets on the 1st and 2nd common areas (for housekeeping purposes), added washer and dryer hook ups in the basement. We’ve also focused on a lot on the presentation. With this property, we’ve experimented with accent walls to make the rooms a bit more unique and welcoming.

This also made them pop quite a bit on the Airbnb listings page.


We closed on the property on February 24, 2020 and got to work right away. The progress was slowed considerably due to the COVID-19, but we were still able to get everything done and launched within 2 months. We went live on April 24th.

Get involved

If you’re looking to launch your own short-term rental properties or want to be involved in larger syndications that we organize, reach out and let’s set up a chat.

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