|
assuming there is no major repairs to be made and the local rental market is strong enough to lease the units in a month or so, it sounds like a good deal to me.
i was looking at a 4-plex in Vegas recently with the same rents and it was priced at $275K and would probably fetch $400K in LA if it was in a decent neighborhood...
and airpal, FYI the correct way to value the property would be to assume it is 100% leased, estimated the value and then deduct out the cost to fix up for leasing and the rent loss from having the units vacant for a bit of time.
|