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 13 Unit West of London
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This building is great income producing property in a quiet community 25 minutes from London with good access from the 401. The tenants love the peace & quit of the area. The building has been well maintained and is easy to manage with good superintendents, and tenants. Upgrades include two new Forced air Gas Furnaces in 2007, hot water tanks approx. 6 years old, and the hallways have been updated with ceramc tiles.
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| 13 Unit Apartment Building |
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| September 4, 2008 |
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| Purchase price |
$525,000 |
| Cap Rate |
9.13% |
| Closing costs |
$17,208 |
| Mortgage @ 75% |
$393,750 |
| VTB @ 10% |
$52,500 |
| Capital required |
$95,958 |
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| Monthy totals |
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| Income |
$7,022.50 |
| Effective Income |
$6,671.38 |
| Expenses |
$3,028.75 |
| First Mortgage |
$2,470.30 |
| VTB |
$305.34 |
| ROI Cash |
$866.99 |
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| Annual totals |
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| Income |
$84,270 |
| Expenses |
$36,345 |
| First Mortgage |
$29,644 |
| VTB |
$3,664 |
| Annual ROI Cash |
$14,617 |
| Principal recapture |
$8,395 |
| Appreciatation |
$10,500 |
| Annual ROI $ |
$33,512 |
| ROI % |
34.92% |
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| Partnership share first year |
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| Annual ROI $ |
$16,756 |
| ROI % |
17.46% |
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| 5 Year forecast |
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| Income |
$447,315 |
| Expenses |
$192,924 |
| First Mortgage |
$148,218 |
| Second Mortgage |
$18,320 |
| ROI Cash |
$87,853 |
| Principal recapture |
$7,110 |
| Appreciatation |
$55,735 |
| ROI $ |
$150,699 |
| Annualized ROI % |
31.41% |
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| Partnership share |
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| ROI $ |
$75,349.28 |
| Annualized ROI % |
15.70% |
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