Selling a Mid-Term Rental Business

[Dustin Perkins]

Any thoughts out there on selling an 18 unit mid-term rental business? I'm looking to sell without a realtor and figured I would get a valuation from a commercial property appraiser but I'm finding those guys don't really specialize in Mid-term rentals, so I'm having a hard time coming up with an asking price. I've got an NOI of $162,848 and it cash flows around $70,500 annually. I'm selling them fully furnished and giving the new buyer all of my business contacts / marketing info. If I were just selling them individually on the MLS with a realtor, I could probably get around $90,000 per unit or $1,621,000.