New to this, how do you think this looks?

[Patrick Gerrity]

Hi everyone!  Looking for some advice here for a newbie.  A property that I used to live in just went up for sale.  Its 7 units, one block from the University.  The area is the upper class section of the city.  It is currently rented and the net income is $49,500, with operating costs of $11,300 a year.  The kicker is the rents are extremely low, as in they have gone up $75 a month since I lived there 17 years ago.  If I evict and rent at current market prices, the net becomes $90,000.  Operating costs remain the same.  Also the tenants have been there for an average of 6-8 years, obviously because of the rent...I am considering paying cash for the property, but wouldn't be opposed to financing some of it.  Any advice?  Thanks in advance, and Im happy to be here!!

[Account Closed]

What is the price?