14x 1BR/1BA units in an apartment building?

[Adam L.]

Wondering what yall think. This is a wholetail scenario...hard money and short closing time window. I would be an absentee owner, but it seems the they're all rented and just in steady state.

• Fourteen units in the same complex, in San Antonio.
• $700k + $12k closing
• all 1br/1ba.
• all currently rented between $750-$850/mo
• described as all units "in great condition with recent updates"
• Rent income = $131k/yr
• Expenses = $54k (HOA, taxes, insurance, utilities)
• avg ~ $50k/unit. Tax Assessed value = $28k/unit.
• hard to get a good comp idea....not much public information on recent sales.

I have not factored in mortgage, vacancy, management fee, CapEx, eventual 6% realtor fee, etc.

Wondering what yall think of an offering like this?