Real Estate Analyst Intern
AZ Investments, San Diego, CA, United States
We are seeking a motivated, organized, and detail-oriented Real Estate Analyst Intern to support our team across acquisitions, underwriting, and tracking portfolio performance.
This role provides hands‑off exposure to the full lifecycle of real estate investing, with a primary focus on underwriting support, market research, and data‑driven analysis, while also assisting with day‑to‑day portfolio operations.
You will work closely with ownership and senior leadership to help evaluate new investment opportunities, track portfolio performance, and support ongoing initiatives across our properties.
This is not a traditional internship. It is designed for someone looking to build a long‑term career in real estate investment by gaining real, practical experience in underwriting, acquisitions, and operations within a growing multifamily platform.
About AZ Investments
Founded in 2020, AZ Investments (AZI) is a vertically integrated real estate investment and operating company focused on acquiring, repositioning, and managing multifamily assets. Since inception, AZI has acquired 14 properties, with an aggregate value of $80M+. Many of these assets have undergone significant renovations, with multiple completed refinances and one successful sale, going through the full investment cycle on many occasions. To further strengthen operations, AZI launched its in‑house property management company, Managed A2Z, in 2023. Today, AZI owns and manages 14 properties totaling 248 units and has built its systems, team, and infrastructure to continue its growth into the future. With a strong focus on technology, process optimization, and operational efficiency, AZI operates its portfolio at a level that is highly competitive within its markets. Key Responsibilities
Assist with setting up underwriting for new acquisition opportunities by inputting rent comps, income, expenses, and internal assumptions into financial models Update and refine underwriting models as new information is received Analyze rent rolls and T12 financials to identify trends, discrepancies, and opportunities Input renovation and construction costs based on historical portfolio data Compare subject property performance against existing portfolio assets and market benchmarks Track on‑market and off‑market opportunities Maintain and continuously update the deal pipeline tracker with key deal details, status, and notes Organize offering memorandums (OMs), broker communications, and deal materials Market Research
Conduct market research across target submarkets Analyze rent comps and competitive properties Track market trends, pricing, and leasing activity Identify positioning and pricing strategies for assets Support data‑driven insights to inform investment decisions Assist in preparing offering memorandums and investment materials Support the creation of deal summaries and presentations Develop charts and visuals to illustrate comps and value‑add opportunities Assist with investor reporting and updates Track key portfolio KPIs, including occupancy, leasing trends, and delinquency Assist in preparing and updating performance dashboards and reports Analyze actuals vs. proforma to evaluate asset performance Support rent comp analysis to guide leasing strategy Track capital improvement projects, budgets, and timelines Operations & Project Coordination
Support vendor sourcing, pricing analysis, and bid comparisons Assist in developing and organizing internal processes and SOPs Maintain operational data, reports, and internal systems Track project timelines and progress across renovations and unit turns Qualifitications
Required Strong interest in real estate investing, property operations, or finance Exceptional attention to detail and organizational skills Strong communication skills and ability to execute tasks independently Ability to manage multiple priorities in a fast‑paced environment Proficiency in Excel and/or Google Sheets Comfortable working with data and basic financial concepts Self‑motivated and able to work independently Preferred (Not Required) Experience building or working with financial models (Excel/Google Sheets) Familiarity with real estate metrics (NOI, cap rate, IRR, cash‑on‑cash) Experience with data analysis or research‑heavy projects Exposure to multifamily real estate or value‑add strategies Experience with tools such as AppFolio, CoStar, or similar platforms Interest in pursuing a long‑term career in real estate investment Additional Information
Compensation:
Unpaid internship (eligible for academic credit, if applicable) Additional Benefits:
Direct mentorship, hands‑on experience evaluating real estate investments, and exposure to acquisitions, asset management, and operations Location:
San Diego – Little Italy / Work to be completed in the office Employment Type:
Part‑Time (Monday‑Friday, 10–20 hours per week, flexible schedule) Term:
Summer internship with potential to extend into the fall based on performance and team needs Start Date:
Target start date of May 1 (flexible)
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Founded in 2020, AZ Investments (AZI) is a vertically integrated real estate investment and operating company focused on acquiring, repositioning, and managing multifamily assets. Since inception, AZI has acquired 14 properties, with an aggregate value of $80M+. Many of these assets have undergone significant renovations, with multiple completed refinances and one successful sale, going through the full investment cycle on many occasions. To further strengthen operations, AZI launched its in‑house property management company, Managed A2Z, in 2023. Today, AZI owns and manages 14 properties totaling 248 units and has built its systems, team, and infrastructure to continue its growth into the future. With a strong focus on technology, process optimization, and operational efficiency, AZI operates its portfolio at a level that is highly competitive within its markets. Key Responsibilities
Assist with setting up underwriting for new acquisition opportunities by inputting rent comps, income, expenses, and internal assumptions into financial models Update and refine underwriting models as new information is received Analyze rent rolls and T12 financials to identify trends, discrepancies, and opportunities Input renovation and construction costs based on historical portfolio data Compare subject property performance against existing portfolio assets and market benchmarks Track on‑market and off‑market opportunities Maintain and continuously update the deal pipeline tracker with key deal details, status, and notes Organize offering memorandums (OMs), broker communications, and deal materials Market Research
Conduct market research across target submarkets Analyze rent comps and competitive properties Track market trends, pricing, and leasing activity Identify positioning and pricing strategies for assets Support data‑driven insights to inform investment decisions Assist in preparing offering memorandums and investment materials Support the creation of deal summaries and presentations Develop charts and visuals to illustrate comps and value‑add opportunities Assist with investor reporting and updates Track key portfolio KPIs, including occupancy, leasing trends, and delinquency Assist in preparing and updating performance dashboards and reports Analyze actuals vs. proforma to evaluate asset performance Support rent comp analysis to guide leasing strategy Track capital improvement projects, budgets, and timelines Operations & Project Coordination
Support vendor sourcing, pricing analysis, and bid comparisons Assist in developing and organizing internal processes and SOPs Maintain operational data, reports, and internal systems Track project timelines and progress across renovations and unit turns Qualifitications
Required Strong interest in real estate investing, property operations, or finance Exceptional attention to detail and organizational skills Strong communication skills and ability to execute tasks independently Ability to manage multiple priorities in a fast‑paced environment Proficiency in Excel and/or Google Sheets Comfortable working with data and basic financial concepts Self‑motivated and able to work independently Preferred (Not Required) Experience building or working with financial models (Excel/Google Sheets) Familiarity with real estate metrics (NOI, cap rate, IRR, cash‑on‑cash) Experience with data analysis or research‑heavy projects Exposure to multifamily real estate or value‑add strategies Experience with tools such as AppFolio, CoStar, or similar platforms Interest in pursuing a long‑term career in real estate investment Additional Information
Compensation:
Unpaid internship (eligible for academic credit, if applicable) Additional Benefits:
Direct mentorship, hands‑on experience evaluating real estate investments, and exposure to acquisitions, asset management, and operations Location:
San Diego – Little Italy / Work to be completed in the office Employment Type:
Part‑Time (Monday‑Friday, 10–20 hours per week, flexible schedule) Term:
Summer internship with potential to extend into the fall based on performance and team needs Start Date:
Target start date of May 1 (flexible)
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