Updated about 10 years ago on . Most recent reply
Need advice on how to price a 21 Condo unit
Hello all,
I'm so excited this is actually my first discussion on BP. I need help pricing out a rented 21 Unit condo in Bayonne, NJ.
The building has 21 units 1 bedroom and 2 bedroom, gross income is 190k.
The building is rented out in full with 0% vacancy. Income after expenses is only 45k.
Obviously the building is miss managed and has low rent cash flow, some units are rent control.
What is the best way to price the building? Should I advise my client to convert the building to condos and sell them individually for best return?