Do or Don't (64 unit complex)

[Jacob Tracy]

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!

[Brian Garrett]

8 buildings and 6 units per building would be 48 units.