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40 unit apartment building - Posted by Eddie
Posted by Eddie on January 30, 2002 at 16:50:12:
Year built: 1966
# of buildings: 2- 2 story buildings (1= 24 units, 1= 16)
32- 1 bedrooms @ 550 sf. 8- 2 bedrooms @ 700 sf.
Heat: Baseboard Hot Water
A/C: Thru Wall individual units
Domestic Hot Water: 80 Gallon Gas Fired hot water heaters in each building. The water heaters are approx. 8 years old.
Roof: Flat Rubber about 10 years old
Laundry: Community Laundry Facility in basement of each building.
(Thru Oct 1)
Bad Debt: 1712
R.E. Taxes: 8071
NOI for for the next 2 months would make it a 30,000 for 2001.
Asking Price: 350,000
Supposedly theres 2 contracts to purchase on the property that are about to be presented to the owner. I told the listing agent basically that I am very interested and that both he and the owner should look at my offer before accepting the other offers.
Well, the expenses are beating this thing badly.
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