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Advice on this commercial multi family
Good morning, I have been looking at this property local to me in Tucson and to me, it looks like the numbers work out nicely. Could I get some other input? What do you think? What jumps out at you and what questions should I be asking before and during a conversation with a lender? Thank you.
11 mobile homes, 1 house, 1 commercial space. Class C I’m not a great part of town. MH rents between 350-450. Home rents 650. Commercial rents 850.
Actuals from 2018:
Gross rental income- 68,700
Total Expenses- 36,148
NOI- 32,225