Posted by Jim-WI on March 31, 2000 at 23:52:01:
The inside of the units look fine. It’s an older building so there is some wear and tear on the units/building. The current owner has pretty much kept up the common area building maintenance. Some of the units need to be painted. 5 of the 6 units have cats and there is a definite urine smell in some of the units. One of the units has an ancient fridge and stove. Other than that all else seems ok.
The financing for the unit is a simple 30 yr loan at an assume 8.5% interest based on the full price of $135,000. I haven’t had the place inspected YET.
We are really early into this and have not had an appraisal done on the property.
Thanks for any more feedback that you can provide!