Newbie Here ... What About This Deal
12 units in suburban Phila.; well kept building; professional tenants
Asking $925K
Annual gross rent $110K
Annual operating exp $44K
Annual operating inc $66K
The owner (for the last 30 years) has done a nice job with the building. The place is in good shape and has excellent tenants - many of them have been there several years. The price still seems high though.
[ Edited by salpher on Date 08/24/2006 ]
let me see... sales & cap rates flattening, commercial rates higher and the property is overpriced at least $200,000 = a definite pass... just my opinion, regards, CWal