Seasoned MF investors lend me your eyes.
Looking to get into my first MF property. It would be an out of state investment for me. 24 unit asking 850k
Concerns
-The area doesn't seem to be the greatest. Although broker claims in the path of progress.
-Price per unit is on the high side along with rent for the area
-It seems to be managed well low occupancy rate, however there are many like units that have been on the market for a long time (zillow) .
Please see financials below, these are not Proforma rather actual..