I need help with analyzing deal in Lakewood

[Moritz Bartels]

Hi guys, this is my first time posting on the forum. I need some help with this deal I found on the MLS, please. All pro forma numbers.

26 door apartment complex in Lakewood, WA. Class C at best. For sale at $1,500,000.

Rent $20,410 per month

Gross scheduled income $245,000

Total expenses $45,000

Taxes $13,000, Insurance listed at $900, which sounds too low to me

I used these numbers in my attached spreadsheet. 

I would pursue deal with a partner. 

Any thoughts? Anything I am missing?

Thanks for your input. 

Moritz