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Updated over 8 years ago on . Most recent reply

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Jing Wan
  • San Dimas, CA
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Trying to buy a fourplex...is it worth it?

Jing Wan
  • San Dimas, CA
Posted

I'm very new to this, I have been reading some guides on this forum and getting some basic ideas about investing in fourplex. I recently came across a fourplex that I like, it's build in 1965, the listing is $773,900 around Anaheim area, all units have 2 bed and 1.75 bath, 970 square feet of living space; each unit will have 2 parking spot and a shared community pool. two units are renting for $1375, one is renting for $1300, and the last one is at $1250 for a total of $5300 per months. Other expense for the property includes $1045 HOA per month (which include all exterior/ roof maintenance and pool/common area maintenance), water/sewer and insurance is about $260 per month, on the listing details, the seller estimated about $25,500 per year in total operating cost. Seller have recently updated all units with laminate flooring, granite counters, vanity, new shower, toilet, new heater and new water heater. i currently have about $180,000 and maybe a little bit more, and the rest on loan. does this sounds like a good deal? any input is greatly appreciated. thank you!!

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