What are realistic expense figures for 20 unit property?

[Allen L.]

Hi all,

I am looking at a deal that which I think is managed terribly, and evidently the seller recently fired its property manager. It's 23 unit multi-floor complex and its expenses for the year ending May 2021 is roughly 2700/door. This includes make ready repairs, WO, cleaning, utilities, landscaping, and capex (not much) etc. I was under the impression that multifamily properties expenses should be way down. What are some realistic expense figures that I can plug into my proforma to evaluate this property assuming it's properly managed? It's roughly 60 years old and is considered a B-/B property in the area.

Thank you all.