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Updated almost 6 years ago,
Help me analyze this Multi Family unit
33 Unit - Asking $4350000 - ( I believe I can offer $4120000)
Expenses
Dept service $195600 There is a big rental upside Currently the average rent is 1042 per unit Comps tell me that if I fix up units @$8000 per unit - I will be able to get $1300 average on a unit. Once all units are done over the building should be able to fetch $6m after 36-48 months
Building is %100 occupied
Current Rental Income - $400380 Total Additional income $20698Expenses
Real Estate Taxes $66,695
Insurance $8,407Trash $3,534
Electric $2,375
Alarm Monitoring $666
Gas $18,749
Pest Control $1,135
Water/Sewer $24,051
Landscape/Snow Removal/Cleaning $12,168Management $34,439
Repairs/Maintenance $16,000 Cap EX $20019 TOTAL EXPENSES $208235 NET OPERATING INCOME: $212843Dept service $195600 There is a big rental upside Currently the average rent is 1042 per unit Comps tell me that if I fix up units @$8000 per unit - I will be able to get $1300 average on a unit. Once all units are done over the building should be able to fetch $6m after 36-48 months