Okay, I found this listing, and it sure sounds interesting, but I am not understanding all the terms and numbers. This is a coastal property:
"Nestled up the hills in the trees rests 18 cheap condo conversion ready apartments for sale, 2 buildings consisting of 6-2 bd and 12-1 bd all with blacony and views of the bay, airport, sunsets. and mall. High school and JR high walking distance. Alway 100% occupied. Private carports, storage and on-site laundry. OWC with $400K down, current 1st is 3.8% and assumable. $120K GSI. 7.5% current CAP rate. 2 daily flights to and from Portland and SF. "
So, I definately get OWC, and I get 3.8% assumable(!!!!), but I don't know what "$120K GSI" is, and I don't know what to do with the 7.5% current CAP rate. I was just learning about CAP rate today, but I am obviously not understanding it properly.