Multi Unit REO Investment in Lompoc Ca

[Melodee Lucido]

Lompoc is a good investment area out here; bedroom community to Santa Barbara.

I am not a multi nor an reo niche investor. But a new agent just sent this to me and said the numbers make sense. Do they?

Price $399,500

Great opportunity to acquire a bank owned 6-unit apartment building in Lompoc. Property consists of 6-2bedroom/1bath units. Recently upgraded units with longtime property management company still in place. Current monthly income is $4040, Current GRM is at 8.16, CAP rate is 6.66% with a 5% vacancy and expenses at approx. 43% of Effective Gross Income.

Is there more info needed?

Feels risky just posting this here but someone should get it if it is a good deal. If someone wants this I could get a finders fee which would be great.

Thanks for your feedback.