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Updated 7 days ago, 11/16/2024
Need your advise on this MF deal
I'm considering purchasing an 8-unit multifamily property in , PA, listed for $600,000. The property has 8 units . All units are currently leased, generating a monthly gross income of $7,200 ($900 per unit). The property is fully rented, close to University and a local hospital, which should support stable tenant demand. im willing to put 20% down payment, Im not sure about the costs that i should think of other than (management fee, vacancy, taxes, insurance , Maintainance) am i missing soething here (but Im saying 55 to 60% cost of the income). Im not sure what is the MF interest rate these days too.
I'm seeking feedback on:
1. The overall attractiveness of this investment. Is it sounds solid or nah. anything i should ask or look more details on
2. Any additional due diligence questions or red flags I should look out for. since its my first time to invest in multifamily
3. Exit strategy and appreciation potential in a market like , PA, which is a smaller town with modest appreciation.
4) is there any tools or metrics with average I can refer to to analyze this.
Would love to hear thoughts from anyone familiar with similar markets or multifamily investments.