Buying a 100 year old 4-plex

[Mohamed Okasha]

I just put an offer on a 4-plex in Cincinnati, OH. The building looks like it’s in good shape but it was built in 1924. Is there anything I need to worry about when buying an old building? Could it have any structural or foundational issue due to age? Would inspection be able to identify that?

Also, if I were to sell it in 10-20 years from now, would it be worth more or less than the current value given that it will be 110-120 year old building?

Thank you all and I appreciate the feedback.

[Paul Sian]

My biggest concerns would be out of date electrical wiring that needs updating (knob and tube or aluminum wire).  If that has already been done that is good.  A good inspector should be able to tell if there are foundation issues but will ultimately tell you to bring in a structural engineer to evaluate.  

Value is determine led by condition of the building and cash flow.  If those two hold up value should be fine excluding outside market issues.