4 Plex

[Ethan Bruland]

Hi, All.  I've been looking for a multifamily property, and finally came across one that seems to work.  All 4 units are rented for a total income of $2,235($26,820/year), with overall expenses of $7,630.  So Net Income is right at $19,000 without accounting for interest.  I plan to cut back on expenses as I will begin to mow and clean the hallways myself.  I'm wondering what kind of return one looks for on mutli family.  This property has a rough cap rate of 8.75, which is decent. 

With some minor improvements, and eliminating expenese, I don't see why I can't get the cap rate above 9 or maybe even to 10.  Any suggestions or input would be great! Thanks!

Ethan