 |
|
|
 |
Brooktree Apartments |
Sold |
Scheduled Monthly Rents
|
Units
|
Type
|
Est. SF
|
Current Avg. Rent
|
Monthly Income
|
|
44 |
2 Bed / 1 Bath |
975 |
$565 |
$24,860 |
|
44 |
|
Estimated Total
|
$24,860 |
|
|
Scheduled Gross Income
|
$298,320 |
|
|
Less: Vacancy (5%)
|
-$14,916 |
|
|
Effective Gross Income
|
$283,404 |
|
|
Plus: Laundry |
$4,298 |
|
|
Effective Annual Income
|
$287,702 |
Estimated Expenses
|
|
Current
|
|
|
% EGI
|
Per/Unit
|
Amount
|
|
Taxes
|
10.45%
|
$673 |
$29,610 |
|
Insurance
|
3.07%
|
$198 |
$8,712 |
|
Utilities
|
7.45%
|
$480 |
$21,120 |
|
Professional Management
|
5.00%
|
$322 |
$14,170 |
|
On-Site Management
|
4.50%
|
$290 |
$12,753 |
|
Repairs
|
7.76%
|
$500 |
$2,200 |
|
Turnover Reserves
|
2.33%
|
$150 |
$6,600 |
|
Landscaping
|
1.27%
|
$82 |
$3,600 |
|
Reserves
|
3.11%
|
$200 |
$8,800 |
|
Other
|
0.49%
|
$32 |
$1,400 |
|
Total Estimated Annual Expenses
|
45.44%
|
$2,926 |
$128,765 |
|
Estimated Net Operating Income (NOI)
|
$158,937
|
|
Cap Rate
|
7.06%
|
|
Debt Service
|
$94,356 |
|
Cash Flow
|
$64,581 |
|
Cash Return
|
11.48%
|
|
Proposed Financing
|
|
Listing Summary
|
|
Down Payment
|
$562,500 |
|
|
Price
|
$2,250,000 |
|
Percent Down
|
25%
|
|
|
Units
|
44 |
|
Loan Amount
|
$1,687,500 |
|
|
Building Sq. Ft.
|
42,900 |
|
Interest Rate
|
3.80%
|
|
|
Price per Unit
|
$51,136 |
|
Loan Description
|
5 yr. fix/30 yr. am. |
|
|
Price per Sq. Ft.
|
$52.45 |
|
|
|