Commercial Pizza Shop, 1 - 2bd, 1 - 1bd, 1 - studio, all occupied

[Mark Benevento]

Hello BP! I am looking at this deal currently and was wondering if anyone could give advice on whether to purchase or not. The building is from the 50's and needs some work but nothing crazy or urgent. Current rents in place are $1500 commercial, $800 2bd, $650 1bd, $450 for studio. These rents are extremely low, older landlord not interested in chasing rents. I have a property down the street and I get $1050 2bd, $850 1bd. For 2018 I kept the rents as is, for 2019 I increased them to a little below FMV. Please let me know if you can give any assistance as I am still in college.