Buying a 14 Unit commercial building in north NJ,
3 Replies
Timothy Deaver
Rental Property Investor from Sussex, NJ
posted about 1 year ago
How much typically in the NJ market is a good price per unit on a small Commercial 14 unit Multy Family Building?
Yonah Weiss
Cost Segregation Expert and Investor from Lakewood, NJ
replied about 1 year ago
@Timothy Deaver It really depends on which areas, and what type of property you're looking at. Class A,B,C, etc.
I have seen some good B/C properties with very solid cash-flow for between $75-90K per door. So for a 14 unit you're looking in the ballpark of $1-1.2M
Timothy Deaver
Rental Property Investor from Sussex, NJ
replied about 1 year ago
Thanks for the reply,
So that's really what we are going under contract for is 1.1M so we are right there, not my 1st property but the most units in one acquisition.
Thanks for the input
Tim
Yonah Weiss
Cost Segregation Expert and Investor from Lakewood, NJ
replied about 1 year ago
Originally posted by @Timothy Deaver :Thanks for the reply,
So that's really what we are going under contract for is 1.1M so we are right there, not my 1st property but the most units in one acquisition.
Thanks for the input
Tim
Okay. That sounds about right, especially if it is fully occupied, and doesn't require a lot of work. Are you self managing?