Investor · Lancaster, PA · Member since 2014 · 17 posts · 2 votes
Hello,
I have an opportunity to purchase a Multiunit (Commercial, residential) property with a $50K yearly gross rental income. The property consists of the following:
2 Commercial store front units
4 2BR Apartments
14 Garages
Purchase Price = $400K
The property has strong tenants on month to month rental leases. Would you buy???
I'd need a lot more info, particularly what the yearly expenses are and what capex looks like. How many years have the commercial storefront tenants been there and are they month-to-month as well?
Lee sorry for the late reply, from what I can calculate capex is less than 10% of the yearly gross revenue. The commercial storefront tentants have been in for more than 5 years each and yes they are on a month to month contract as well.