I Need Your Help Analyzing a Property!

[Gina Dovel]

I've been looking on LoopNet for Multi-unit properties in North Carolina and wanted to get some opinions from my experienced BP members.

Church Street Apartments

264 Church Street, Concord, NC 28078

$465,000

14 Units 

Multifamily Property For Sale

Building Size:0 SFPrice/Unit:$33,214.29 Property Type:MultifamilyProperty Sub-type:Garden/Low-RiseProperty Use Type:InvestmentCommission Split:3% Cap Rate:13% Gross Rent Multiplier:6.62 Occupancy:100% Lot Size:0.53 ACAPN / Parcel ID:56217008770000Listing 

Net Operating Income $60,450

Here is a link to the property http://www.loopnet.com/xNet/MainSite/Listing/Profile/Profile.aspx?LID=19048378&SRID=5435875991&StepID=101