APOD

Based on
projected rents
of $375/mth. for
1 bdrm. and $450/mth. for
2 bdrm.
Mountain View Apts.

29 units
185 E. 13th Street

(21 two-bdrm. @ $450/mth)

(8 one-bdrm @ $375/mth)
              

$/unit

                 

Comments
Potential Rent Income             $149,400     
Less vacancy

(1% of PRI)

       $1,494

based on hist. perform.
Effective rental income            $147,906      
Plus other income                

      $8,400

laundry
Gross Operating Income              $156,306      
                      

   

    
Real estate taxes

$512

$14,850

     

based on 1.1% of price
Property insurance $179 $5,200

    

      
Payroll/Onsite personnel $290 $8,400

           

manager's compensation
Repairs and maintenance $259 $7,500

    

     
Water and garbage $364 $10,550

     

     
Gas and electric $126 $3,650

      

      
Accounting and legal $31 $900

          

            
Licenses/Permits $18 $510

      

     

Supplies $19 $550

         

       
Misc. $31 $900

      

    
Manager's apartment $165 $5,400

      

          
Materials $97 $2,800

           

           
Total operating expenses        

                      

$60,310

38.58% of G.O.I.
Net operating income            

      

$95,996

61.42% of G.O.I.
               

     

     

       
CAP Rate=7.1%        

        

     

     
GRM=9.04        

      

    

         
This APOD has been prepared to provide summary information to prospective purchasers. Prospective investors should rely only on their own investigations or those of professionals with expertise in specific areas. Prospective investors are encouraged to come to their own conclusions independent of the information contained herein and are encouraged to consult with their own attorneys and accountants for legal and/or tax advice. The information contained in this APOD has been obatined from sources believed to be reliable, however Prudential Commercial Real Estate makes no warranty, representations or guarantees of any kind (express or implied) as to the accuracy of such information. All references to square footage, lot size, age of improvements, income or expenses should be considered as approximates only. Many factors presented can vary dramatically and are subject to changes in market conditions and circmstances beyond the control of Prudential Commercial Real Estate.