Estimating Costs?

[Matthew Branton]

Hi everybody. I'm evaluating a deal on an 11 unit building. I have the Owner Statement, but it doesnt have a breakout of the costs. As you can see expenses are 45k a year.

The owner bought the thing for cash, so that isn't a mortgage payment. So the costs are like 3700 a month? Does that look typical? Thats about $340 in costs per unit per month give or take... am I wrong to think that is nuts and it has to be some sort of capital expenditure. I have a request in for more info but I wanted to run it by the forums.