Help me analyze this MultiFam Deal.

[Joe M.]

6 Unit - 2 BR each

Rents are $450, $475 & 495.

Asking: Price is $149,000

Owner says the building is completely rehabbed:

New plumbing & water heaters

new separate electric

new furnaces

new windows

newer roof

new lighting

new kitchens

new bathrooms

new back decks

new carport

This is all the information available to me right now, other than a few pictures.

I've not done any multi-family deals yet, but I hope to do at least one this year. Just curious how you guys would rate this deal based on the information available. Is it worth looking into further?

[Steve Babiak]

Getting a "rent roll" from current owners for past few years should tell the story about demand and vacancy.

It's a better deal if the utilities (heat and electric in particular) are truly separated for each individual unit; if landlord has to pay heat or electric for tenants, this might not turn out to be such a good deal.