I’m looking for an equity partner to JV on a 32-unit multifamily acquisition in Mobile, Alabama.
Deal Highlights:
- Purchase Price: ~$21,000 per door
- Total Units: 32
- Target IRR: 30%+
- Equity Multiple: ~5.0x over a 10-year hold
- Business Plan: Value-add with refinance in Year 1 returning ~100% of invested capital
- Post-Refi Returns: ~12% cash-on-cash on original equity (with capital fully returned)
Capital Need:
- $70,000 EMD
- Partner to remain in the deal post-close as equity
This is a true JV opportunity with strong downside protection, early liquidity via refi, and long-term cash flow and upside.
If this fits your profile and you’re interested in reviewing underwriting and structure, feel free to DM me.