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Updated over 7 years ago,
30 unit apartment deal help/analyze
This is the first look and serious attempt and getting an apartment complex me and my partner have found. Confused on the numbers of course. Need some bigger pockets expert advise.
Seller price is: 695,000 30 unit building built 1914
20% down payment seller may carry
Rental income: 10,900
Property taxes :9868
Property management: 10771
Maintenance and repairs yr: 11,381
Advertising: 500
Utilities 23,000
lawn care: 670
Average market rents in the area. C-B- area white collar 400 to 700. mostly I see 575 for 3 beds nicer places.
this is a mix unit building 1, 2, 3 bedroom one bath. only a couple have laundry hookup. Small laundry in basement.
Thanks for any experienced investor looking at this.
How do we value the property?