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 18 Unit Collingwood
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1911 school-house converted in 1988 to a classy 18 suite apartment building with a additional 19th non-registered unit (not rented) + approx. 6000 sq. ft. of open top floor space that can house about six more units-plans and permits(town approval) req’d. Large and unique suites. Outside walls were completely insulated when apartments were built & building is energy efficient.
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| 18 Unit Collingwood |
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| September 4, 2008 |
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| Purchase price |
$1,600,000 |
| Cap Rate |
7.43% |
| Closing costs |
$31,968 |
| Mortgage @ 75% |
$1,200,000 |
| VTB @ 10% |
$160,000 |
| Capital required |
$271,968 |
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| Monthy totals |
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| Income |
$14,006.28 |
| Effective Income |
$13,305.97 |
| Expenses |
$4,105.58 |
| First Mortgage |
$6,809.50 |
| VTB |
$930.57 |
| ROI Cash |
$1,460.32 |
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| Annual totals |
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| Income |
$168,075 |
| Expenses |
$49,267 |
| First Mortgage |
$81,714 |
| VTB |
$11,167 |
| Annual ROI Cash |
$25,928 |
| Principal recapture |
$29,145 |
| Appreciatation |
$32,000 |
| Annual ROI $ |
$87,073 |
| ROI % |
32.02% |
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| Partnership share first year |
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| Annual ROI $ |
$43,536 |
| ROI % |
16.01% |
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| 5 Year forecast |
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| Income |
$892,164 |
| Expenses |
$261,515 |
| First Mortgage |
$408,570 |
| Second Mortgage |
$55,834 |
| ROI Cash |
$166,245 |
| Principal recapture |
$160,518 |
| Appreciatation |
$169,860 |
| ROI $ |
$496,623 |
| Annualized ROI % |
36.52% |
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| Partnership share |
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| ROI $ |
$248,311.36 |
| Annualized ROI % |
18.26% |
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