Need a trustworthy partner who wants to invest

[Delmas Edwards]

Is this a good deal???? Seller is offering seller's financing but haven't reached the seller yet.

 Apartment Complex in Oak Park, MI 48237

Price: $2,550,000

No. Units:44

Cap Rate:9.09%

Building Size: 37,020 SF

No. Stories:2

Price/Unit:$57,954.55

Year Built:1965

Net Operating Income$231,700

2,550,000- Price

637,500     Down Payment 25%

1,912,500

231,700 (NOI)

-178,500    - (7) Rate Factor

53,200 $53K A Year= $5K A Month 44units= 1200 per unit