Need help on 20 door complex

[David Schwan]

I am looking at a 20 door complex and it seems like a good deal but I am not sure if I am doing the math correctly. My question is how does a lender value commercial properties. Here are some of the details. Please respond with any questions that you have.

property consist of 10 duplex (20 doors) 

Asking price is $400k

Estimated expenses of $4500 per month excluding the mortgage. Taxes, Insurance, Vacancy, Repairs, CapEx, Management and misc.

This is a C property that is 40yrs old and needs about 20k in upgrades. it is currently 95% occupied with that being the current 12mo average. I am not sure what other questions you might have but reply and I will answer the best I can.

Thank you,

David