I want this deal too!!

based on the rents, some maybe rent control? not familiar with the location, but if this is a super deal, maybe its a sign of CRE multifamily shaking up? I was expecting to see some Manhattan multifamily brownstone crashed first as they have way higher tax and operational cost, compared to this one, which he owner can choose to just sit on it.

A couple of other misleading statements in there besides projects rents which are just projected.

A couple of other misleading statements in there besides projected rents which are just projected.

A lot to be wary of here, but I will speak up on behalf of the clothesline support at the back of the yard. Practically an antique, and something that is rapidly disappearing. You'd never get permission to install one new, and a good partial solution to rising energy costs.

Wow, if this guy was selling life insurance or a mutual fund or shares in a company, the SEC would yank his license and toss him in jail. But because realtors are totally unregulated and have no code of ethics, they can tell you whatever bullsh1t you're willing to believe. Buyer beware of these unscrupulous shysters

So what is the cap rate on this?

$145k rent in existing condition.
Less $35k expenses including super, repairs, admin, legal etc.
$110k
At $1.75mm. 6 cap. About the going rate for any thing with any rent regulated units.

Is all the mumbo jumbo in the listing meant to convince buyers into ignoring the cap rate? I think so.