Multi unit built in 1900... bad rental property???

[Adam Philpot]

Evening BPers, I just found a 5 plex that if everything checkout is going to give me a cash on cash return of 16%. BUT it was built in the year 1900. Its by far the oldest property I’ve ever considered buying as a rental. How much does an old home/multi-units concern you as an investor? Is this one just too old?

[Nathan Gesner]

An old property like that could also be in excellent condition since things were built better back then. Has the plumbing, heating, and electrical been upgraded? The structure is still standing which is more than I can say for some properties built in the 70's and 80's.

Don't let the age scare you. It may have been fully upgraded. Find an inspector qualified to check older structures and do your due diligence.