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Updated over 11 years ago on . Most recent reply

User Stats

120
Posts
15
Votes
Mike Wallace
  • Metro Detroit, MI
15
Votes |
120
Posts

what would you pay for this building? 6 unit

Mike Wallace
  • Metro Detroit, MI
Posted

Building is in a C area. I own other multi family and SFH in the area so there will be no surprises with the lower income tenants, I am used to it.

6 units at $485 per unit. $34920 yearly gross revenue

taxes= $5500 per year

Insurance = $2500

Lawn snow= $1200

the building has 12 year old boiler with a baseboard hot water heating system. Have no idea of that monthly/yearly cost.

Tenants pay electric.

Building has been updated in the past 10 years, also has coin washer and dryer in basement.

What do you guys think this is worth based solely on the numbers?

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