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Updated over 7 years ago, 04/13/2017

Sarah Lorenz's profile image
Sarah Lorenz's profile image
Sarah Lorenz
  • Specialist
  • from Ann Arbor, MI
  • Member since Mar 5, 2016
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User Stats

355
Posts
190
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Sarah Lorenz's profile image
Sarah Lorenz's profile image
Sarah Lorenz
  • Specialist
  • from Ann Arbor, MI
  • Member since Mar 5, 2016
Connect
Sarah Lorenz
  • Specialist
  • Ann Arbor, MI
190
Votes |
355
Posts
Multi-Family and Apartment Investing

What's wrong with this Loopnet listing w/ projected 17% cap rate?

Sarah Lorenz
  • Specialist
  • Ann Arbor, MI
Posted

Just browsing idly on LoopNet--I know these are the pick-over and overpriced deals--and I was curious about this 3.2 million listing for a 90 unit portfolio in Cleveland with a "projected" cap rate of 17. 27%. Occupancy is at 42%--ouch. What would an experienced investor offer on this? What's going on here? 

14100 Superior Road, Cleveland, OH

http://www.loopnet.com/Listing/20057500/14100-Superior-Rd-Cleveland-OH/ 

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