Help With Multi Family Deal!

[Shawn Connors]

Hey BP,

So I got a lead today on a multi family deal I need some help with. Its a huge mansion in an A class neighborhood that was converted into a 5 unit apartment. Each unit is occupied and currently rents for $1200 which is not the full market rent. With a little updating you should be able to charge $1400. The house was recently listed for 7 months for 1.5m and did not sell. I am looking to make an offer but do not quite know how to evaluate a multi family property. I primarily deal with SFR but this may be a good deal if I can find the right offer to make. Any help would be great;y appreciated. Thanks in advance.