48 units in decline: How much could the bank lend?

[Ben Granja]

Hi Everyone,

Long story short, I have a property that is on a downhill slump right now. Over the last 7 years the property owner has gone from have a property manager full-time, to part-time, to none at all. The owner's CPA convinced her to let him manage the property instead. You can see the rent has steadily decreased. This owner is checked out and the broker let us know the projected gross rents for this year will be $125k. Long story short, my partner and I believe there is huge potential in this property for an involved owner. Financials below.

Our question today is with 25%-30% down for the acquisition, how much do you all think a bank would loan for? I have a feeler out to a local bank but would love some outside opinions from the great people here as well!

Thanks for your help,

Ben