Case Study: Wier
5-Unit Multifamily | South Phoenix, AZ
Infinite Return in 12 Months Through Smart Renovation & Financing
Deal Snapshot
Weir was acquired off-market from a motivated landlord looking to exit. We converted underutilized storage into a rentable studio, executed ~$100K in targeted CapEx (roof, AC, paint, deferred maintenance), stabilized the rent roll, and completed a cash-out refinance within 12 months. The result: infinite return, tax-free liquidity, and ongoing strong performance.
Strategy
Off-market acquisition with direct-to-owner terms
Converted storage into a studio unit to add income
Renovated key building systems and deferred maintenance
Stabilized rents and executed refinance quickly
Pro Forma vs. Actual Performance
Pro Forma 2025
Stabilized Cap Rate: 7.34%
IRR: 85%
Cash on Cash Return: -23%
Projected Gross Rent: $62,355
Annual Appreciation & Expense Increase: 3%
Actual 2025
Gross Rent: $79,632 (27% above pro forma)
Annual Equity Appreciation: ~27%
Cash-Out Refi Proceeds: ~$145,000 (tax-free)
Capital Left in Deal: $0
Remaining Equity: Significant due to NOI growth and market lift
Long-Term Metrics
Equity Multiple: 4.5x+ (est.)
IRR: 35%+
Monthly Cash Flow: Ongoing, post-refi
Depreciation (Year 1): $104,000
Ongoing Depreciation: ~$10,770/year
Investor Insights
Weir demonstrates how creative vision and smart capital deployment drive scalable returns. The unit conversion created immediate income. Timing the refinance before rate hikes preserved long-term cash flow. Tax planning amplified yield. This is the blueprint for zero-capital, high-return investing.
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