Need help in evaluating real estate deal

[Rahul Bhatt]

My little introduction I am investing in real estate from last 5 years started with rentals. as of now hold 15 rentals units (all 1-4) here in California and Ohio. this is the first time I am trying to invest in a small apartment complex. trying to do for a long time but never seen an opportunity where numbers make sense. but this one seems to be decent cash flow. and also there is some value-add.

I need some expert opinion who can let me know what is going on.

Location -- It is in SF bay area City called Richmond.

Price 1.25 MM Asking (we are under contract around the same price )

Unit mix we have 5 2-1 and 3 3-1

Current rent I $1400 and 1600 for 2 bd and 3 3bd around 12260 gross. all tenants are on a month to month lease.

I need advise especially with multifamily investors in bay area

1. Richmond as location (I live in Fremont)

2. I got some suggestion from experts and mentors about water being a bit low. I am going to verify it from actual bill.

Please let me know if I am missing something here. The first commercial can be really overwhelming :)

Also if you are in the bay area and would like to learn more about this deal please let me know,

Thanks for your help