40 UNITS in FRESNO, CA | $3,995,000 4550-4596 E SIERRA MADRE AVE, FRESNO, CA 93710 a Mogharebi - a Mogharebi - LISTINGS.MOGHAREBI.COM/COLLEGEAPARTMENTS Company Ozen
PRO FORMA INCOME & EXPENSES Current Units Type Unit SF Total SF Market Rents Avg. Rent 36 One Bed One Bath 650 23,400 $865.00 $763.11 4 Two Bed One Bath 950 3,800 $965.00 $778.75 40 680 27,200 $875.00 $764.67 TMG August RR / T12 Income Pro Forma Adjusted Expense Scheduled Market Rent $420,000 $367,044 Plus: Section 8 Income - - Less: Vacancy 4.00% ($16,800) ($14,682) Net Rental Income $403,200 $352,362 Plus: Laundry Income $2,500 $2,500 Plus: Application, Late Fees $1,200 $1,200 Total Operating Income (EGI) $406,900 $356,062 Expenses Per Unit Administrative $65 $2,600 $2,600 Payroll - Onsite $300 $12,000 $12,000 Repairs & Maintenance/Turnover $750 $30,000 $30,000 Management Fee 5.00% $504 $20,160 $17,618 Utilities $700 $28,000 $28,000 Contract Services $210 $8,400 $8,400 New Real Estate Taxes 1.2290% $1,227 $49,099 $49,099 Assessments $557 $557 Insurance $343 $13,700 $13,700 Total Expenses $164,515 $161,973 Per Unit: $4,113 $4,049 Per SF: $6.05 $5.95 Net Operating Income $242,385 $194,088 Less: Debt Service ($150,690) ($150,690) Projected Net Cash Flow $91,694 $43,398 Cash-on-Cash Return (Based on List Price) 7.65% 3.62% Debt Service Coverage 1.61 1.29 GRM 9.51 10.88 Cap Rate Analysis Price $/Unit $/Foot Cap Rate Cap Rate Offering Price $3,995,000 $99,875 $146.88 6.07% 4.86% Total Down Monthly All Financing Loan Amount Payment LTV Payment $2,796,500 $1,198,500 70% ($12,558) Proposed Mortgage Desired Total LTV Amount Interest Rate Amortization Payment Fees 70% $2,796,500 3.50% 30 ($12,558) 1.00% 40 UNITS IN FRESNO, CA | $3,995,000 4550-4596 E SIERRA MADRE AVE, FRESNO, CA 93710 a Mogharebi - a Mogharebi - LISTINGS.MOGHAREBI.COM/COLLEGEAPARTMENTS Company Ozen IMPORTANT INFORMATION & DISCLAIMER: This information has been secured from sources we believe to be reliable, but we make no ROBIN C.
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