$50 K Per Unit Rent is $550 per unit....Pursue or Pass?

[Jordan Vires]

Greetings All, 

There is multifamily complex for sale locally. The seller has come down to 50k per unit (down from 56k) per unit. These units rent for $550 per month. It is a growing area and rents are increasing with time. It is a good complex with 16 units (4-plexes).  

With out all going through tax rates, debt service, etc, Would anyone pay $50 k per unit with rents of $550 per unit? The buildings are in good shape and have metal roofs. There also onsite tenant manager who has taken care of property in full for years. (everything from lawns to showing and signing leases.

Remember just based on this information, I would be pleased to see the groups thoughts. 

Thanks and Good Luck

Jordan