Looking for some insight...

[Brian Story]

I'm looking at buying a 9 unit apartment complex. I could probably pick it up for $350K. However, it is only assessed at $180K. Is this normal? Do people generally figure the cash flow into the price? There by inflating the value of the property over and beyond the actual assessed value? I know the county assessment doesn't matter much, but that's quite a spread between assessed value and asking price!? Right???