Prepare the operating picture
For a building with five or more units, a rent roll and operating history help explain how the property performs today. Identify vacancies, concessions, owner-paid expenses and larger maintenance items separately. A buyer should be able to distinguish recurring operations from one-time costs.
Explain the source and period of each figure. Actual results, an owner’s estimate and a proposed renovation scenario are different kinds of information and should be labeled accordingly.
Describe the physical and management work
Identify known roof, plumbing, electrical and common-area issues, along with recent repairs and available reports. Provide an overview of existing management and service contracts. If part of the building is inaccessible, identify that limitation early.
Tenant information should be handled appropriately. An initial inquiry does not require identity documents or sensitive personal records; agree on a secure diligence process before exchanging detailed files.
Explore fit before discussing commitments
805 is expanding its interest in larger multifamily opportunities on the Central Coast. That describes acquisition interest, not a claim that the company has already completed every size or type of apartment transaction.
A serious discussion should clarify the buyer, financing approach, inspection and document conditions, proposed timing and responsibilities through closing. No website description replaces those written terms.
A USEFUL STARTING POINT
What to have ready
- Unit mix and current rent roll
- Operating statements with reporting periods
- Known capital repairs and inspection reports
- Occupancy and relevant agreements
- Desired terms and available diligence documents
Questions worth asking
Is every apartment building a fit for 805?
No. Fit depends on the property, scope, financing and proposed terms. Sharing an overview allows an initial discussion.
Do the 100+ combined units mean 805 owns a 100-unit building?
No. That figure describes Eddie and Raul’s combined ownership and management, not one building or one entity’s portfolio.