would appreciate advise on a deal I'm working on.

[Adam Demchik]

Hi all. Just wondered if you could provide feedback on a deal I'm working on. The details are as follows:

No of Units: 4
Purchase Price: 120,000
Monthly Rent: $1800
Monthly Expenses: $1100
(I know...not a great deal)

The bigger question I have is that as part of the purchase I also get about an acre of land zoned for multifamily. I could fit another 16 units in 4 unit buildings on the property (according to the current owner). Does anyone have an estimate of what it would take to build 8-1 bedroom and 8-2 bedroom units? The building details are as follows:

2 story
units are 800-1000 sqft
mostly sided
on slab
single entrance to each building

Thanks all in advance!