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Updated over 5 years ago,
Thoughts on this possible purchase
Looking to purchase 6 units. It is (2) 3 unit residential units. 120k cost. Approx $12k/yr taxes and water/sewer. All utilities paid by tenants except water/sewer. Currently all units rented with Long term tenants without leases, but no back rent owed. All 6 units could be raised $100/mo minimum as they haven’t been raised in years. Monthly gross income is $3275. (5) 2bd/1 bath and (1) 2bd/2 bath. I know the current owner. They have owned the property along with other properties in the area for many years. The family is just ready to move on from this particular property because honestly no one wants it anymore and everyone else has their own lives that they want to focus on. On paper and in my mind this is a smoking deal and I should jump on it. Just looking for other opinions about the deal.