Can Quadplex be valued as a coomercial property?
Hey Team! I'm 20 years old and have an off-market 4 unit (quadplex) in hudson valley NY i'm looking to buy. It is vacant now but once stabilized, will generate a GOI of around 75k. Im running 30% expenses to bring my NOI rounded down to 55K. typical cap rate in my area is 6%-7%. Is a really good on paper with a REFINANCE exit strategy. $785.000 value and current bridge loan would be at $365,000
QUESTION
Will this deal be hard to appraise on a caprate/NOI basis because it is 4 unit? I spoke with some refinance companies and they say shouldn't be an issue as long as you can show in place lease agreements with tenants and expenses. What do you advise and should I move forward with this deal with this exit strategy in place?
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