Evaluating a quad package

[Amia Barrett]

Hi everyone,

I am working in a wholesale deal for 3 quadplexes in Jacksonville Fl. I heard that commercial multi family properties are 5+ units and are appraised based on the income. I am confused how to evaluate this property because they are being purchase and sold as a Package making it 12 units but technically each building would normally be evaluated based on residential comps. Are there any multi family buyers out there that can advise me on how you would evaluate this in making your decision? *The deal will be a 12-14% cap rate , 100% occupancy with mostly long term tenants, higher rent potential up to an additional 100 per door and no upfront renovation cost....and less than $500k net annual revenue of approx $70k. They are all on the same street next to each other as well.