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Updated almost 7 years ago,

User Stats

26
Posts
6
Votes
AJ Angel
  • San Clemente, CA
6
Votes |
26
Posts

20 unit property, deal advice

AJ Angel
  • San Clemente, CA
Posted

Im going to be buying a 20 unit apartment property.

im doing seller financing with 15% down on a 395,000 price with a 6% interest

monthly rent total is $8,215 when fully occupied, 17/20 are rented

monthly expenses:

water-1100

landscaping- 200

taxes-226

insurance-70

future property management -600-700

seller payment- 2400

total is 2500-3500 (set aside 25% for repairs and vacancy of that. total)

cash flow around 1800-2600

the property is real low maintenance, no washer/dryers, building is cinder blocks with concrete flooring,

there is more story to the property but this is just a rough snap shot of it.

good deal or no deal? thank you

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