Anchorage 4-plex inspection findings

[Tico Sellers]

Hey all!  I wanted to ask for your thoughts on critical items to scrutinize on inspection reports.  I am working on entering the Mountain View 4-plex market.  I know many would steer clear of this neighborhood.  However, I am not as concerned with crime or the quality of tenants (to a degree) at this time, as I am with ensuring the property is up to code and isn't going to land me in some kind of hot water with the municipality (particularly as the area transitions through the Target Neighborhood Plan).

Just received the report back on a property I am pursuing, and would like to know potential shortfalls of some of these items that may or may not be a big deal.  1980s era build with the following items of interest:

- Lacking 1A10-BC extinguishers, water heaters lacking drip tubes and seismic straps, windows blocked by stored items preventing egress, common area doors not self-closing or fire rated, cleaning/sealing water staining in various areas, other key areas with wood rot/staining as viewed from crawl space, roof missing some shingles (age unknown), birds in attic (missing some grates), vapor barrier to thin/missing in crawl space, exterior damp proofing damaged.  Just to name a few items (The list is much, much longer lol).

Also, after engaging on a few properties over the past month or so, obtaining information from selling teams has been like pulling teeth... Not sure if that's just the nature of the multi-family realm or the overall dynamic of the Anchorage market right now.  Under contract at the moment and cannot obtain any info on age of roof or boiler, etc.  Currently planning to bring out a roofer, and a couple other contractors for further assessment.

I would greatly appreciate any insight on whether these are fairly normal items or potential for bigger problems down the road.  Or any general recommendations on other experts to bring in to further assess the property.

Thank you in advance for your time!!

[Caroline Gerardo]

Okay just to answer about the deferred maintenance, not having the ins and outs of the dollars for rents and expenses

1A10-BC fire extinguisher costs $20 but in a C building they get stolen you need a number of them and wall cases

Plumber water heater straps cost $18. Blocked windows- throw away the junk. Fire rated door $300-for bottom of line $700 for steel. Dry rot no idea how  much but say that's $2000 including painting it. Replace roof shingles let's say it's $40 for a pack and you buy 4 to be able to fix in the future. Install a 1/4 inch galvanized grating over all attic entrances and roof vents $400 including cleaning the pigeon excrement. Vapor barrier- no idea how much square footage but again that material is cheap.  So you purchase all the parts and have a guy who is not afraid of roofing repairs complete all the fixes and paint where stained with oil based paint to last Cost $7000. Seller is not going to do the work, and you don't really want them to because they won't do a great job. Do the repairs to last. On site manager who reports with video and you calendar the site inspection weekly.  Get a pro to inspect the heater/boiler and vents