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Updated almost 6 years ago on . Most recent reply

User Stats

35
Posts
2
Votes
Christopher Aguilera
  • Investor
  • Santa Ana, CA
2
Votes |
35
Posts

What would you offer on this Multi family to make it work?

Christopher Aguilera
  • Investor
  • Santa Ana, CA
Posted

Hello Everyone, 

I'm new to pro and I started analyzing deals on a daily basis to get the hang of it. The strategy that I want to do is "buy and hold" and wanted to start with "multi family". I want to make it second nature when i'm analyzing and i think i have a long way to go. I found a Triplex and I''m wondering if i captured all the income and expenses to the tee or if I missed anything. What would you offer on this property to make it work?

Property details:

1905 E Adams Ave, Orange, CA 92867

Purchase price is $839,500 - Regular 20% down over 30 years 5% interest

AVG closing cost $5,000

ARV $839,500

Repair cost 50,000 - Property looks in decent condition but i just wanted to factor in some repair cost plus Yard need TLC. 

Building is 2800sqft that sits on a 8200spft lot

Unit A 2beds/1bath      Median Rent: $2,045 (Rentometer)

Unit B 2beds/1bath      Median Rent: $2,045 (Rentometer)

Unit C 1beds/1bath      Median Rent: $1,600 (Rentometer)

Expenses:

Insurance - $210

Water - $400 Estimate

Garbage - $100 Estimate

Cap X - $341.40 (6%)

Vacancy - $341.40 (6%)

Property Mgm - $569 (10%)

Land care - $100

Taxes - $874.00

What else should i look for in expenses or income?

I know is not a good deal but what would make it a great deal? 

Thank you

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