4 unit Apartment Bldg. question...

[Richard Sindell]

Hi Everyone,

I'm new to investing and need some guidance.  Can anyone please help me?  The president of my condo association has a 4 unit bldg. in the Los Angeles area that she selling.  The total income is $5200 mo. and the Mortgage is about $2500 per month.  I don't yet know what any of the other expenses are but I can find out.  She told me she's asking $745k but is open to offers.  That puts the Cap Rate around 8% based on an about $ 62,400 of annual income.  

How do I figure out if this is a good deal?  I know I need more information..

If anyone can help me out, I'd really appreciate it.

Thanks!

Richard