Taylor Avakian Finds a Buyer at $112K/door

What matters

1. The number.$2,250,000 all-in. 20 units. $112,500 a door. 6.79% CAP
2. The CAPA 6.79% CAP.  The property comes with two vacancies.  My take on it is that the buyer is going to attempt to get some section 8 vouchers for those vacancies and push the rents up and bring this to a 7%+ cap
3. 7.84 GRM and $287k of revenue, there is room for a good operator to drive down expenses and increase yield.
4. Taylor Avakian.I like following Taylor because he's one of the most driven guys I've met in this space. He's always on the phone, works hard, and has a very good feel for the market. He usually knows what something is going to trade for before it trades.  What caught my eye is that during this difficult market, he was able to get activity in South LA. At close to $100,000 a door, that's something not to ignore.