First Commercial Deal (Take 3) Thoughts? Advice?

[Lou Ruggieri]

Okay guys and gals, your help is most appreciated here.  I have some residential experience, but now I am trying to take the next big step in my RE life -- a small apt building!  This is out of state, and I already have a good broker and an EXCELLENT management company ready to take over upon purchase.  Now, I just need to find the right damn deal.  I've been through a few dogs so far, and some shady owners, but so far, this deal seems like it has a lot of potential.  It was certainly presented much more professionally than any of the others thus far, which does lend some credit to the owner at least taking it seriously if nothing else.  This is a 13 unit building that have some big apartments.  I'll let the following numbers do the talking for me:

They were nice enough to include financing numbers, at their full asking price of course ...

I know every area is different, but this property seems like it's priced just a little higher than it should be.  I am looking for any sort of issues that may present themselves here that I could be missing.  The only other pertinent info i have from them is that the capital improvements are as follows:

Six 3-bd units have gotten kitchen and bathroom updates

All units have been repainted and floors refinished

New boiler in 2005

600 amp electric

"Some" copper risers replaced in 2015

New HW 97-gallon tank in 2014

So what do you think?