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Updated over 3 years ago,

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Morgan Nandin
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Worth looking into?-350k for 5 + Unit Apartments/Commercial Inc

Morgan Nandin
Posted

I am beginning my REI journey and have 1 flip under my belt but my goal is to have some rental properties. There is a property for sale that I drive by everyday and I am not sure if it's worth diving into/if it could be a good deal. I don't have a ton of information but here is what I do have.

listed 350k-On the Main Street of town.  4 buildings on the lot.  First building has a deli/convenient store below and 2 apartments above. 2 single family homes behind and a large 2 story garage.  Rent right now is apparently low and bringing in $3800 with potential for more. Have only been in the store below and it is in good shape and the other units seem to be in good shape.  Some work needed on the 2 homes behind and garage. 

Any advice at all would be really appreciated on if it’s worth looking into/next steps. Closing on my flip early August and will have some funds for a 1031 exchange

Thanks!

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