multi family commercial purchase repostitioning potential
I am negotiating a 64 unit C/C-D in the Richmond, VA area. What is the normal Caprate/unit price? Property is on the southeast side right near I-295 south of I-95. I am looking at an ask in the neighborhood of 7.4% which seems very high. Agents telling me that is about right in Richmond but it seem high to me for an unimproved 50 year old property without HVAC or any other upgrades. John