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  • Correct Unit Mix Apod

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    This document provides information on a 15-unit apartment building for sale located at 4561-4571 Utah Street in San Diego, California. The building is listed for $1,425,000 and generates $148,920 in annual gross income currently but could generate $165,600 at estimated market rents. Operating expenses are estimated at 35% of gross income, or $52,692 annually. At current rents, the net operating income is $88,783 and the cash-on-cash return is 5.3%. The listing agent notes that the unit mix is primarily one-bedroom units and there is little upside potential in raising rents.

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    This document provides information on a 15-unit apartment building for sale located at 4561-4571 Utah Street in San Diego, California. The building is listed for $1,425,000 and generates $148,920 in annual gross income currently but could generate $165,600 at estimated market rents. Operating expenses are estimated at 35% of gross income, or $52,692 annually. At current rents, the net operating income is $88,783 and the cash-on-cash return is 5.3%. The listing agent notes that the unit mix is primarily one-bedroom units and there is little upside potential in raising rents.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Als XLS, PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    51 Ansichten2 Seiten

    Correct Unit Mix Apod

    Hochgeladen von

    assistant_scc
    This document provides information on a 15-unit apartment building for sale located at 4561-4571 Utah Street in San Diego, California. The building is listed for $1,425,000 and generates $148,920 in annual gross income currently but could generate $165,600 at estimated market rents. Operating expenses are estimated at 35% of gross income, or $52,692 annually. At current rents, the net operating income is $88,783 and the cash-on-cash return is 5.3%. The listing agent notes that the unit mix is primarily one-bedroom units and there is little upside potential in raising rents.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Als XLS, PDF, TXT herunterladen oder online auf Scribd lesen
    Markieren Sie unangemessene Inhalte
    von 2

    APARTMENT INVESTMENT INFORMATION

    # Units Address City Zip Map Code


    15 4561-4571 Utah Street San Diego 92116

    GRM CAP Rate


    Price Current Market Current Market $/Unit
    $1,425,000 9.6 8.6 6.2% 7.3% $95,000

    $/Square Foot Gross Sq. Ft. Parcel Size Yr. Built


    (Approx.) (Approx.) (Approx.) (Approx.)
    $135.91 10,485 ?? ??

    Income Detail Actual Annual Operating Expenses


    # Units Type Rent Total
    Estimated Actual Average Rents Advertising $0 Management (Off Site) $6,911
    1 2Bd/1Ba $925 $925 Elevator $0 Management (On Site) $0
    2 1Bd/1Ba $810 $1,620 Gas & Electric $1,788 Licenses & Fees $525
    1 1Bd/1Ba $800 $800 Water & Sewer $6,580 Miscellaneous $0
    3 1Bd/1Ba $775 $2,325 Landscaping $2,225 Reserves $0
    1 2Bd/1Ba $910 $910 Trash Removal $3,260 Pool $0
    3 1Bd/1Ba $735 $2,205 Pest Control $300 Insurance $0
    1 1Bd/1Ba $990 $990 Maintenance $15,000 Taxes $16,103
    1 1Bd/1Ba $825 $825
    1 1Bd/1Ba $835 $835
    1 2Bd/1Ba $975 $975

    Laundry & misc income $0


    Total Monthly Income $12,410

    Estimated Market Rents Total Annual Operating Expenses (estimated): $52,692


    3 2Bd/1Ba $1,000 $3,000
    12 1Bd/1Ba $900 $10,800 Expenses Per: Unit $3,513
    % of Actual GSI 35%
    Laundry & misc income $0
    Total Monthly Income $13,800
    Estimated Annual Operating Proforma Financing Summary
    Actual Market
    Gross Scheduled Income $148,920 $165,600 Downpayment: $550,000
    Less: Vacancy Factor 5% $7,446 $8,280 39%
    Gross Operating Income $141,474 $157,320 Interest Rate: 5.50%
    Less: Expenses 35% $52,692 $52,692 Amortized over: 30 Years
    Net Operating Income $88,783 $104,629 Proposed Loan Amount: $875,000

    Less: 1st TD Payments ($59,618) ($60,205) Debt Coverage Ratio:


    Current: 1.49
    Pre-Tax Cash Flow $29,165 $44,424 Market: 1.74
    Cash On Cash Return 5.3% 8.1%
    Principal Reduction $0
    Total Potential Return (End of Year One) 8%
    Comments

    Listing Agent misrepresented Unit mIx. Buildings are comprised primarily of 1 Bedrooms. Very little upside in rents.

    David Cameron (619) 226-6011 x106 Cashflowsandiego@gmail.com


    The information contained herein has been obtained from sources believed reliable. While South Coast Commercial Commercial does not doubt its accuracy, we have not verified it and make no guarantee,
    warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates are used for

    example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax, financial and legal advisors. You and your

    advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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