Underwriting an 8-Unit. How does it look?

[Chris F.]

Looking at an 8-unit and would love your feedback on where I may be over/under conservative. I have the inplace that the seller "shows" and then my assumptions for the current year. All units expect the last one are occupied and on a year lease. The last unit was the owners unit so I am making an assumption there current to market.

Project is in California.

Here is the link

[Jordan Moorhead]

@Chris F. that's typical for most smaller buildings. I've never had a seller have accurate records beyond a rent roll. With these smaller buildings you have to see the potential and determine what it will take to get there. If it was a great investment as is they probably wouldn't be selling it.