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Updated over 6 years ago,
Need help with valuing multiunit property !!!
I had a deal in front of me and need help determining if this is a good value....
It is a low cost low income building.
I have a break down of all the numbers but I’ll just throw out the basics
Gross rent is $234,000 on an upward trend producing closer to $22,000 a month last 4 months, seller has been clearly cleaning things up a little before selling
The balance sheet that they gave me shows $98,000 NOI but they do not have property taxes listed and makes me wonder what else that they left out..
But either way that should still keep the NOI above $90,000
The asking price is $800,000
Looking for advise from some experienced investors
Thank you