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Updated about 4 years ago,
Multi family fixer upper analysis!
Hey, just found a 24 unit apartment complex in a Midwest city that was totally redone in 2016 and it has 24 units with 15,172 sq ft total. All apartments are rented and they want $1,450,000. Taxes- $10,250 year. The building is 1.5 miles from a 10,000 student University. They have some 1bd 1bath for $600 rent so if they all rent for $600 x 24= $14,400 (some are more). Calculator shows $290k down, $6000 monthly payments. With taxes, management, etc estimating payments of $10,000ish monthly. Are those numbers somewhat accurate? Thanks for your time!