OM with undisclosed price

[Antonio Pican]

Hello,

Property details being reported: 
8 Units
5x one bedroom
3x two bedroom
Income @ $102,000 (5% vacancy included)
Expenses @ $43,000
100% occupancy 

Advertised as undisclosed and then after talking to the broker he is saying unless you bring 1.4mil it's not going to happen. My concern lies with who in the right mind would pay this? Using debt or not, the numbers do not make sense. 

Upon underwriting the property which is in a popular area with current avg rent at $1000 with a possible potential up to $1400 since value-add and below market rents is being assumed in the offering. Without getting to technical, with the current numbers and doing pro forma the metrics (cap rate , cash flow, debt service ratio, etc..) are better off with doors shut unless you parking up for 100 years I suppose :/. 

My point here is are these firms just fishing for someone who truly does not know what is going on and hop on the multifamily hype train without a proper understanding?