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I'm pretty sure this is the same block of units that was on the market earlier this year (or perhaps late last year). It would be worth finding out why it is on the market again.
I looked at this and decided against it. I'm far from an expert, but here's why I left it alone:
From memory, Rates + insurance were going to be about 6-7K per year. I wasn't sure how much to calculate for repairs, but with 4 kitchens and 4 bathrooms, you would have to expect it to be quite significant long term. Ballpark figure 3-4K per year?
Property manager at about 9% - another 3K per year.
Accountant - 1K?
Total (but definitely not exhaustive) expenses somewhere in the region of 13-15K
After allowing for 48 weeks per year occupancy (I think this is a good idea in a smaller town) the 35K income figure starts to look more like 32K. Taking the expenses off I reckon you couldn't expect to be left with more than 17-19K.
Net yield of between 4.85% and 5.42%
I don't claim to be an expert (I have a grand total of one investment property), but hopefully this is of some value to you.
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