Multi family
Hello, my name is Dondi. I am a newbie because I have not done a deal yet. I have a question I hope one of the more seasoned investors can help me with.
There is an 8 unit property for sale by an asset manager about 40 minutes from where I live. How do I get an ARV on a multiplex? What are some of the things to look out for?
Just to give you a bit more info, there are 4- 2/2, 2-1/1. All are full with tenants and one of the tenants lease is up in a couple of months. I don't know if he wants to stay.
Sale price is 169,000 it's from an asset manager they are only accepting cash or private money
It's concrete block
Square foot is 4760
Built in 1964
ppsf: 33.50
No HOA
Roofs are not currently leaking but can be redone, minor bath repairs in 2 units
Monthly rent is 3055.00 a month plus at closing you get the tenants deposits total of 2920.00
Please let me know if I could give you anymore details but I would like your input on buying this property.