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Updated over 8 years ago,
Multi family in Phoenix az
So the realtor just sent me this property info:
Area around 12th and Indian school, class B neighborhood?
Asking price 625k
10 units total.
Rents are:
One 3 beds 770
Two 2 beds 640
Seven 1 bed 540
Total per month 5640
Monthly utilities 1900
Individually metered right now the owner is paying all
Insurance 2646
Owner will carry long term with 125k down.
Not very familiar with Phoenix market.
Doesn't seem like it's going to cash flow very well. The realtor says there is upside on rents and switching to individual utilities.
Need advice!
Thanks!