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Updated over 6 years ago,
Help with what I'm missing on a property.
There is a MF property that caught my eye, and it's been on the market 9 months or so. I keep looking at it, wondering why. it doesn't fit what I need atm, since I'm looking for a 4 unit max to FHA. But I look at everything, to learn.
https://www.realtor.com/realestateandhomes-detail/...
I don't have all the figures to run a true analysis, but in the Denver market, I'm going to assume that if this was a good deal, it'd be gone.
Basically 5 doors, all 1 bed/1 bath, with the garages to rent separately. its Denver, and close to Swedish Hospital, so I'd think each unit would rent for $1K a month easily. The garages, $150 ea. or more, per craigslist, So a gross income of $5750. Taxes are $225 a month or so. vacancy rate should be negligible, 5% or so?
Unless the interior is a dump..what am I missing?