How this triplex number sounds to you ?

[Ron Singh]

looking at triplex in bay  area Oakland,  what do you suggest on offer price ?

pros : 

-near bart

-mostly updated with in last 2 years

-3/1 rented m2m @ 2700

-2 units vacant,  2b/1 each, can rent around 2200

-newer building around 15yr old, original roof

-not much repair or work needed , both vacant units can be rented as it is. 

- tanent pays all utilities

- low maintenance property

cons:

- number of bedrooms dosen't match with city records,  city shows one less bedroom and 1 more bathroom, might be issue in conventional mortgage ?

- 25 % down needed since it will note owner occupied ?

- current owner owned less than 2yr , they said selling to buy other property (red flag?)

- not best area due to crime, bad schools, but location is good for people working in city.

no-one car garage only, on street parking might be tight, 2-3 car can fit in drive way

- current owner brought around 700 in 2017, asking 1.1M  not sure if its worth,  comp does not justify. 

- seller is in hurry,  want to list on market soon 

- seller only upgraded major appliances,  flooring and crown molding, overall asking price seems too high.