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Updated over 7 years ago,
14 Unit Multifamily. Is it a buy?
Help me see something I might be overlooking :). The complex...
•Has 14 units (10-2br1ba, 4-3br1ba)
•100%occupancy (good rental history - not less than 90% in past 5 yrs.)
•$8995yr Taxes
• $8000yr Ins
Total Yearly Rent Gross - $90,000 (between 500-550 per unit)
Asking Price $499,000
I don't know about previous maintenance costs yet, but I do know that the units are in good not great shape. 10 units were built in 1975, and 4 more were added in 2002!
The complex is brick, and is in a B+ community.
Any feedback is appreciated! You guys are awesome! THANKS!