Help me look at this deal?

[Gary Abner]

Hello All,

I have a 4 duplexes that I dearly love and don't owe very much on them. I've just recently started trying to look at debt differently based on BRRR and so I'm looking at bigger. I wouldn't mind finding a partner who's a little shy on equity and high on experience.

This just looks like a really great deal to me, unfortunately this is the first apartment building I've looked at.

Bainbridge is a high end area and I estimate rents should be $23k/month, double the current rents.

I don't know anything about expiring rent controls.

https://www.redfin.com/WA/Bainbridge-Island/550-Madison-Ave-N-98110/home/2261811

Anyways, let me know what you think.

Thank you for looking at my post.

Gary

[Gary Abner]

It sold for ~2.1 million.  It had 14 offers.  :)

Thanks to all that took a look.  It was definitely under priced.