Ok guys I found a 7plex for sale in a nearby college town. It has 2bed 1baths, 1bed 1baths and a studio apartment. 2beds=$400 x2 =$800 1 beds=$325 x4=$1300 studio=$300x1 =$300 13 unrented storage units $50ea
Some of the current occupants smoke and have cats. Current owner is burnt out ready to move on. Parking on side of street only Needs work to bring it up to date. Definitely has some room for improvements. I would fix up units as the go vaccant. All units are individually metered for water and electricity bills. Also have a pay washer and dryer.They are asking $85,900 which is a 12 cap. The town has a lot of apartment buildings in it. Lots of vaccant houses. But it home to eastern Illinois University. I currently have only experience in sfrs. Any advice or ideas on what to look for or look out for. The lot is 40'x112' and the building is 37'x100'. Thanks, let me know what you think.
