Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Commercial Real Estate Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 6 years ago, 09/04/2018

User Stats

12
Posts
4
Votes
Jacob Tracy
  • Rental Property Investor
  • Defiance, OH
4
Votes |
12
Posts

Do or Don't (64 unit complex)

Jacob Tracy
  • Rental Property Investor
  • Defiance, OH
Posted
I recently discovered an apartment complex for sale in my area that looks to be a pretty good deal, and would like some thoughts and opinions on it. Also am not sure of the best way to go about financing it. The property is 8 buildings for a total of 64 units. There are 6 units per building. Each of these units are 2 bed/1bath and rent for $500 per month. The current asking price is $2,125,000. Looks to me like about a 9 cap with an ROI of about 18%. The property is in surprisingly good condition but there is some room for value add. I'd love to get some thoughts from investors who have experience with larger multi family properties, as I have none. Thus far in my investing career I only have experience in buy and hold single families and flips. However I would love to jump into the multi family market. Any advice is very much appreciated!

Loading replies...