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 21 Unit Hamilton
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Excellent income producing property with possible upside on rents, additional garage rental & laundry coin slot increase. New Roof in 2000. The building has individual hydro meters and the tenants are paying their own hydro. Commercial space has been rented as residential units and is allowed by the city. The financing as clear.
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| 21 Unit Hamilton |
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| September 4, 2008 |
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| Purchase price |
$875,000 |
| Cap Rate |
8.42% |
| Closing costs |
$22,014 |
| Mortgage @ 75% |
$656,250 |
| VTB @ 10% |
$87,500 |
| Capital required |
$153,264 |
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| Monthy totals |
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| Income |
$12,863.00 |
| Effective Income |
$12,245.58 |
| Expenses |
$6,723.25 |
| First Mortgage |
$4,128.77 |
| VTB |
$508.90 |
| ROI Cash |
$884.66 |
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| Annual totals |
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| Income |
$154,356 |
| Expenses |
$80,679 |
| First Mortgage |
$49,545 |
| VTB |
$6,107 |
| Annual ROI Cash |
$18,025 |
| Principal recapture |
$13,940 |
| Appreciatation |
$17,500 |
| Annual ROI $ |
$49,465 |
| ROI % |
32.27% |
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| Partnership share first year |
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| Annual ROI $ |
$24,732 |
| ROI % |
16.14% |
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| 5 Year forecast |
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| Income |
$819,340 |
| Expenses |
$428,254 |
| First Mortgage |
$247,726 |
| Second Mortgage |
$30,534 |
| ROI Cash |
$112,826 |
| Principal recapture |
$78,263 |
| Appreciatation |
$92,892 |
| ROI $ |
$283,981 |
| Annualized ROI % |
37.06% |
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| Partnership share |
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| ROI $ |
$141,990.67 |
| Annualized ROI % |
18.53% |
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