6 unit in a B - Class area. Seller wants $265k

[Andrew Michaud]

I am looking into buying this 6 unit apartment. Interior and exterior fully updated, important items such as heating, roof, etc updated. Fully turn-key. It produces 56k Annual Gross Income and after expenses makes 38k/yr. Tenants pay all utilities so expenses are low on these units. Mortgage after 20% down payment will be about 20k. Net income 18k, cash invested before closing costs $53,000. I will be paying about 45k per door for these units and they will be paying me $3000/yr each or $18,000. Good deal or is asking price too high? Have tried to negotiate and she has came down a bit but is holding on pretty tight. Property does produce well I would say but is it worth the cost? What on your thoughts on this deal? Pull the trigger on hold back? One thing I like about this property is its an actual building build for apartments. All first floor and everything metered out properly. Its not a massive 100 year old home turned into a 4plex. Thanks!