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Updated over 6 years ago,
Would you buy this 10 unit?
Looking at a deal and need advice. Here are the numbers. 10 units all 2/1 with an average rent of $600. I would classify it as a c property in nice area. Built in 1977 with half the units updated. The yearly Expenses are as follows:
Tax $7800
Ins $1500
Garbage $1800
Water/sewer $6000
Management $6000
Vacancy. $2160
Total for year $25,260
Rental income $72,000
Rents in the area for comparable unit are $650-800.
Thanks in advance. Location is Oregon.