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Updated over 9 years ago,
What should I be asking about this Multi?
I'm looking at a Multifamily here in Jacksonville advertised at an 8.3 Cap. This seems to be about a full percentage point higher than other properties that would be comparable. HUD and VA also have tenants in some of these units and the rent is "guaranteed" for those. Apparently this property is pretty good for the lender too b/c they are offering an assumable loan or the opportunity to originate a new one. Renovations were also done w/in the last 10yrs.
So why might this property still be on the market?