Deal Analysis - Thoughts?

[Kevin D.]

8 units plus a commercial/retail space.  Assumptions are below.  I'm curious to see what BP members would pay?

3 x 2 BR Apartments @ $700-$750/mo.

1 x 1 BR Apartments @ $550/mo.

4 x Studio Apartments @ $400-450/mo.

Commercial is 1450 sq. ft. and should rent at $11-12/ft.

All units have completely separate utilities, except water.  All residential units are leased, but I do question the quality of the tenants.  The retail space needs approx $5-7k to make it in to a vanilla box.  The commercial space exterior also needs a face lift, but there are grants available for this that will match funds up to $2,500.

Expenses:

Management: 8%

CapEx: 5%

Maintenance: 10%

Taxes: $3400

Insurance: $2900

Levy/Rental Fees: $1000

Sewer: $1400

Water: $1080

Garbage: $900