6 unit property in Walker's Square - Milwaukee

[Brie Schmidt]

I have a 6 unit property in the Walker's Square neighborhood of Milwaukee for sale.  I currently have it under contract for $135k and am having issues closing on it cause the banks who will work with us won't do above 4 units.  I am looking for someone to take over the contract at the purchase price.  

Current rents $600 2 br, $500 1br ,$500 1br, $500 1br, $500 1br, $450 studio = $3,050

Market Rents are $650 2 br, $550 1br ,$550 1br, $550 1br, $550 1br, $475 studio = $3,325

Currently, there are 4 gas meters and 1 electrical meter.  In the contract the seller agreed to split out the utilities into individual meters and add baseboard heat in 2 of the units that are currently sharing service.  The current leases are MTM with utilities included. They would need to be given notice of the lease change for them to pay utilities (and they could use a little rent increase based on market rents)

Here are the numbers at current rents with the tenants paying utilities: