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Updated over 14 years ago,
Not WAR zone, not Prime multifamily deal (what to pay)
after expenses theres 23990 left over as the property sits and theres room for that to improve by increasing occupancy. But I want it to cash flow the second I take it over.
5120 w center st
12 units totals
potential 72300
vacancy 20%
actual 57840
taxes 15000
42840
utilities 5700
37140
Grounds 450
36690
Insurance 1700
34990
repairs 5200
29790
caretaker 2500
27290
management 2800
24490
advertising 500
How much would you pay for the property? Its an REO I'll have to low ball for the property to go through but its been on the market for a while. the property is listed for way to much
2 units are not rented that's why vacancy is at 20% gettin them rented will chance number obviously but for now 83 percent is actual occupancy.
rents are as low as 300 for long term tenant to as high as 550 in 3 of the units
6 1/1
6 2/1
its saying all rents and repairs are being made.
any expenses I'm missing.