Thoughts on this 37 unit

[Taylor C]

I've run across some larger multi-units. This one seemed interesting.

37 units + underground parking
ASK: 1,999,000
CAP: 7.34
GROSS: 301,309 (25,871/mo rental - 4% vacancy + laundry income), with opportunity for rent increases
NOI: 146,695 (after owner pays heat 35,200)

Janitor (14,000), maintenance (2,200) and management (26,500) are included in expense.

Owner has 1,200,000 mortgage at 5.5% that is assumable

What do you think?