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Multi-Family and Apartment Investing

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Pete Kelly
  • Investor
  • Kitty Hawk, NC
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16
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11 Unit Duplex Purchase Analysis

Pete Kelly
  • Investor
  • Kitty Hawk, NC
Posted Aug 21 2016, 11:44

I am under contract to purchase 11 duplexes and have a 10 day DD period.  Although I have scrutinized the numbers I would appreciate the feedback of the BP community:

Details - $1,034,000 purchase

$94,000 per unit

$1200 month rental with a 10% vacancy rate over the past 3 years

Total Annual rent - $145,000 net of vacancy

Expenses:

Payment - $4454 x 12 = $53,448 - 30 year amortization w 15% down - approved w local bank

Annual taxes - $10,000

Annual Insurance - $8000

Annual Maintenance - $26,400 -

Mgmt Fee - $10150

Total Expenses - $107,998

New Roofs in 2014

All inspections of HVAC being completed next week

I sincerely appreciate the informed analysis of this deal.  Please let me know if there is any additional information needed.

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