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Multi-Family and Apartment Investing

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William Pickett
  • Homeowner
  • Pulaski, TN
2
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30
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30 unit apartment deal help/analyze

William Pickett
  • Homeowner
  • Pulaski, TN
Posted Jun 14 2017, 08:41

This is the first look and serious attempt and getting an apartment complex me and my partner have found. Confused on the numbers of course. Need some bigger pockets expert advise. 

Seller price is: 695,000         30 unit building built 1914

20% down payment seller may carry

Rental income: 10,900

Property taxes :9868

Property management: 10771

Maintenance and repairs yr: 11,381

Advertising: 500

Utilities 23,000

lawn care: 670

Average market rents in the area. C-B- area white collar 400 to 700.  mostly I see 575 for 3 beds nicer places.

this is a mix unit building 1, 2, 3  bedroom one bath. only  a  couple have laundry hookup.  Small laundry in basement.

Thanks for any experienced investor looking at this.  

How do we value the property? 

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