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Updated about 6 years ago on . Most recent reply
Selling a Multifamily w/SF. Suggestions?
Earlier this year my wife and I bought a 7 unit apartment building that came along with a SF 2/1 on the same lot. I've nearly completed the interior restoration and all units are rented out (wife and I live in the 2/1 SF). Monthly gross is about $4800 (if wife and I paid for our 2/1 place - $4100 otherwise). Basic utilities are included with an average of $500 per month on all units including the house. There is also a small onsite laundry with inherited leased machines (50/50 spilt after $40 mo).
Here's the question: with no real or recent comps what's my best way to estimate asking price. We are in northern New Mexico not Denver so price will be less to be sure but I'm looking for a starting point. Thanks.