West Palm Beach multi family analysis- would you buy this?
Greetings,
We have an investor interested in the following property, do you think he should buy:
30 units
2/1 with washer dryers
Average rent 1225$
Cost is 115k per unit
950 sq ft
Buyer will be getting 30 year financing
Class c/c +
Built in 1970
West Palm beach low rise apartment not in war zone
What is your feeling of rents going up or down in this area? What about demand?
Currently we manage about 500 homes and all of our class c type 1200-1300 rents will rent right away.
Any thoughts?
Glenn Gurvitch
Florida’s Property Management