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Updated over 16 years ago,
Multi-Unit Apartments
I am testing the waters of commercial real estate and was wondering if anyone could look over the numbers I currently have available. Here is how I see the deal.
Asking Price- 600,000
# of units- 13
Gross Operating Income- 71,820
less
Taxes- 3087
Insurance- 2310
Repairs- 6875 (added 25% to estimated price, )
Utilities(common area)- 400
Misc(pest, snow,landscaping)-2300
Net Operating Income 56,848
less
Mortgage Payments 46,800
Cash Flow 10,048
Now I will not be offering $600,000 but really wanted to check with some of you experts to make sure I'm not forgetting anything. Also, since my cash on cash return is not stellar, should I just pick my percentage of return and just work backwards to figure out my max offer?
PS-I absolutely love this site.