Hello everyone, I’ve been analyzing deals on apartment buildings and two of them have caught my eye and I’d like your opinions on them!
1. Purchase price 2,800,000
- 18 units (mostly 2 br)
-cap rate 7.7%
-gross rental income 302,400
-NOI 215,312
2. Purchase price 900,000
- 18 units (12 are 1 bed , 6 are 2 bed)
- cap rate 10.4%
- Gross rental income ~140,000
- NOI 83,600
The first one is near a major college campus, so tenants are most likely students, the second property recently reached stabilization. I think both are interesting for their own reasons. I’d also like to mention I’m assessing these as bringing “hustle” into a deal. I’m new into investing but have experience in financial analysis and reducing costs in an engineering role.
I look forward to hear your thoughts and comments on this!
