8 unit multifamily in Georgia - Should I buy?

[Vitaliy Pynzenyk]

Hi  - my friend needs CASH (want to build a residence in country club) and is Selling his 8 units multifamily complex. Here is the DEAL:

8 units, (7) 2BR, (1) 4Br, renovated in 2012, currently fully leased.

Negotiated Price - 425K

Monthly Rent  - $5,300

Management fee - 8%

Insurance - 2,400 annualy

Property Taxes 6,500 annually

Yard maint - $100 monthly

I am planning to finance with 25% down. Does this deal make sense? It looks decent to me based on CAP, CASH on CASH, Gross rent multiplier ratios.

Please share your feedback.....