I am looking at buying a 4-plex with almost 10% cap rate and 15.3% ROI. One small sticking point for me are the monthly fixed costs. The water is not individually metered, so I'll have to pay that. None of the units have dishwashers or washer/dryers, so may not be too bad, but still considering if it is feasible to have meters added so I can bill tenants for their water. Anyone have experience doing this? Thanks!
Call city water department. I am surprised people will rent w/o a dishwasher or laundry. In here it will be unrentable as people expect these features.
A lot has been written about this (called RUBS) on Bigger Pockets. Here's a good starting point: