Requesting assistance on a multifamily

[Christopher Wedde]

Hello BP,

I am currently looking at a property in Rollinsford, NH a class C-B area. It is a quad unit 8 bedrooms and 6 bathrooms, 4,238 Sqft. Asking price is 330k. I will be buying via a VA loan, seller offered to repair everything the VA inspection brings up. The house is in decent condition, was built in 1880, a lot of cosmetic issues on the inside and out. The only two concerns I have is the brick wall foundation is bowed out on one side and the chimney is leaning a bit. The owner did a patch job to steady the chimney but I feel it will need to come down, sooner rather than later. 3 of the 4 units are rented out currently for 950, 1000 and 1000 a month. I would bring the rents up to 1050 a month for each about. Which would make the NOI to be about 26k. Overall I definitely think 330k is to high. So my question would be what would you do? Would you make an offer? If so how much?

Thanks in advance for any and all answers.