Multifamily Review - Newbie

[James Winters]

Looking at a MLS listing to learn what to look for here: 1600 N Emerson Ave

Minneapolis, MN 55411

http://www.loopnet.com/Listing/6099429

The numbers I calculate are pretty close to matching the 10 CAP shown on LoopNet. With 25% down on a commercial loan it looks like it could make $200 per door and a CoC over 15%.

What do I need to do for next steps? I’m thinking verify rent assumptions with a property manager and ask for a P&L. What pitfalls do I need to look for? Does this seem like a potential deal?

Thanks!