Updated over 5 years ago on . Most recent reply
Analyze a small multi-family
Who wants to play with some numbers?
What would you offer on this property? The details as provided.
10 units(5 Duplexes), 2 bed 1 bath per unit, 640 square feet each, 2/3 acre, built in 1986, new exterior paint, new fence along parking lot, many interior upgrades: resurfaced bathtub surrounds and kitchen counters, tile floors, central heat/air. On a relatively cross street, surrounded by single family homes on 1 acre lots and other duplexes.
Each unit renting for $825. 100% capacity. First opportunity to raise rent is March 2021 with 2 units. 8 units expire May 31, 2021.
T-12 NOI $51,558
Expenses $41,282 (Taxes $18,012, Insurance $3,250, Water $7,100, Trash $4,620, M&R $5,228, Professional Fees $3,072, 6% vacancy loss $6,160)
ProForma:
Rents at $875
NOI $56,000
Expenses 44,820
Your offer would be?