Need some advice. First commercial property.
32 units, built in 1975
Purchase price: $520,000
Decent condition, Brick, small town, 100% occupied
Gross rents: $134,400
vacancy loss: $13,400
Taxes: $12,000
Ins: $8000
Utiliites: $24,000 (all water paid by owner)
Repairs: $8000
Prop Mgr: $13,000
NOI: $55,600
Debt Serv: $43,000
My concern is age of building. Seems like good deal, anything I am missing?