All Forum Posts by: Account Closed

Joel, thanks for your response. I'm putting 25% down. The property is in decent shape. There is some deferred maintenance on the exterior of the property which I estimate will cost $10-$15k based on estimates I received.

The interior of the units are in good shape, recently painted, floors redone. Two of the units were gutted and redone earlier this year and about 50% of the appliances in the units are new. Two of the AC units was also replaced within the last 3 yrs.

Thanks!

Additional details about the opportunity

• 21 units
• Landlord pays Electricity/Water/Trash
• 75% occupied

Financials.

• Sale price 500,000
• Price for Unit 23.8k
• YTD gross revenue $65k
• YTD expenses $23k
• YTD NOI $42k
• Estimated gross revenue 100% occupancy 160k
• Estimated expenses 100% occupancy 30k
• Estimated NOI 100% occupancy 130k

Thank you for your help!

I would appreciate your feedback on this commercial multifamily opportunity I am evaluating

YTD Rental Income $57k

YTD Expenses including water, taxes, Insurance $27k

NOI $30k

The property is currently being mismanaged, potential gross income is approx $13k.

Would a financial institution look at this opportunity favorabily; would they look at the current/potential rent roll and P&L statements to make their decision?

Thank you!