How to determine ARV on Orlando building

[Robert Lindsley]

Hi there,

I'm looking at buying a 24 unit apartment building in the Orlando area.  The building cost $699k and needs around $200k in repairs.  The building has 15 efficiency units, 3 1BR units, and 6 2BR units.

What process should I use to determine the ARV of the building? Any thoughts would be greatly appreciated!

Thanks!
Robert.

[Christopher Phillips]

@Robert Lindsley

Typically, either comparable sales in the area or using the cap rate.

NOI/Cap Rate = Price.