13 Winship Street – Brighton, MA
Strategic Narrative
Why We Did This Deal:
- Unique ability to convert a single-family into a multifamily, maximizing value and income.
- Strategic location: adjacent to other properties already owned, creating operational and management efficiencies.
What We’ve Changed/Improved:
- Began rehabilitation work (cosmetic + structural improvements).
- Preparing for construction to reconfigure into multifamily.
Biggest Wins / Lessons Learned:
➡️ Patience pays off. This deal took more than 3 years to secure—proving that persistence in sourcing off-market or niche opportunities delivers significant upside.
Purchase Price:
$460,000
CapEx Invested:
$80,000 in rehab (construction for multifamily conversion pending)
Current Valuation:
$510,000
NOI:
Vacant → $2,800/month potential rent roll (as single family)
Deal Type:
Single-Family (Conversion to Multifamily Planned)
Acquired:
November 2023 for $460,000
Current Valuation:
$510,000
Capital Stack:
75% LTV financing
Strategy:
Buy & Hold → Convert to Multifamily