Repeat of 2008 - investment property being moved one hand to another

https://www.redfin.com/CA/San-Mateo/401-E-Poplar-Ave-94401/home/698722

30% equity in one year. Wow!

For those not lazy like me, how much is the monthly mortgage on a baby like this one assuming 20% down, etc?
16 1 bedroom apartments
15 studios.

401 Poplar sits on an oversized 30,100 SF lot with 23,026 SF of rentable space. The building consists of (16) one bedroom/ one bath units and (15) studios. Five units have private backyards or patios. All units benefit from significant interior upgrades including new paint scheme, renovated kitchens & baths, new LVT flooring, recessed lighting & new wall heaters. Tenants enjoy a brand new spacious community BBQ and playground area, new upscale secure entrance & signage, private gated complex, new paint, doors & double pane windows, and an on-site laundry facility. Station 401 @ Poplar is strategically located in one of the healthiest and thriving sub-markets in the Bay Area. San Mateo County is home to several major Fortune 500 companies including Facebook, Oracle & Genentech. Caltrain is within walking distance and highways 101, 92 & 280 are in close proximity. Station 401 is also equidistant to the downtown areas of San Mateo and Burlingame offering several attractive amenities.

$400k per unit for 700sf 1 bedroom and studio. I would buy 31 condos instead

Sure they are not cleaning money?

They are private real estate equity firm having invested 200 Millions in many multiplex complexes. How I know, my son has rented one of the Studios for $2200/month. Only issue is railway track next to it ! But, complex is remodeled nicely.

How much do they rent the 1 bedroom?

To renovate 30 units, it could cost 1-2M. So the price increase is not just profit. I feel that SFH provides better return than this and less risk

What’s the key to start a real estate private equity or REIT? Fund raising? Operation?

Never mind!

$61,593 per month…
$13K property taxes? What? We pay $6K? What the hell?
So, basically, you may break even here if you rent at $3K