[Calc Review] Help me analyze this deal
Hey guys,
I came across this off market 18 unity apartment complex. Seller has owned for over 25 years and has no lien on the property. The numbers are his actuals from last year.
This one intrigues me for a few reasons:
1. He is charging $800 in rent where market is easily $1000 (neighboring similar units rent for $1000)
2. He is also paying for water for all 18 units
3. There are 16 separate garages attached to the property that he is not utilizing.
4. He is willing to seller finance for 5 years at 5% interest 30 year am. with 10% down
This will be my first multi family property, so any insight on what I may be missing or should consider would be greatly appreciated!
*This link comes directly from our calculators, based on information input by the member who posted.