12-unit apartment pricing

[Daniel Urban]

I am looking at a 12-unit apartment building but it is in total disrepair. Only four of the units are being rented out, four of the unoccupied units need to be completely refurbished and the owner doesn't have a P&L. The overall building is in good shape its just cosmetic stuff inside the units and minor stuff to the outside. The current owner is basically pricing it at what the complex could potentially be doing if all of the units were being rented. So how do I value this property if I don't have a majority of the financial information? Another question, which I'm pretty sure I already know the answer to, will a bank even lend to me for a property like this?

Thanks for any feedback

Daniel