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 24 Unit Bradford
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The building is an absolute pleasure to show. Good proximity to amenities. Walk-up apartment building with attached covered garage for 14 cars. Seller will discharge existing financing and Buyer is to arrange a new CMHC insured First Mortgage based on a 30 year amortization. Treat financing as clear.
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| 24 Unit Brandord |
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| September 4, 2008 |
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| Purchase price |
$2,395,000 |
| Cap Rate |
6.88% |
| Closing costs |
$42,883 |
| Mortgage @ 75% |
$1,796,250 |
| VTB @ 10% |
$239,500 |
| Capital required |
$402,133 |
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| Monthy totals |
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| Income |
$22,186.00 |
| Effective Income |
$21,076.70 |
| Expenses |
$8,459.67 |
| First Mortgage |
$9,941.80 |
| VTB |
$1,392.94 |
| ROI Cash |
$1,282.29 |
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| Annual totals |
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| Income |
$266,232 |
| Expenses |
$101,516 |
| First Mortgage |
$119,302 |
| VTB |
$16,715 |
| Annual ROI Cash |
$28,699 |
| Principal recapture |
$45,004 |
| Appreciatation |
$47,900 |
| Annual ROI $ |
$121,603 |
| ROI % |
30.24% |
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| Partnership share first year |
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| Annual ROI $ |
$60,801 |
| ROI % |
15.12% |
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| 5 Year forecast |
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| Income |
$1,413,192 |
| Expenses |
$538,859 |
| First Mortgage |
$596,508 |
| Second Mortgage |
$83,576 |
| ROI Cash |
$194,248 |
| Principal recapture |
$246,732 |
| Appreciatation |
$254,259 |
| ROI $ |
$695,239 |
| Annualized ROI % |
34.58% |
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| Partnership share |
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| ROI $ |
$347,619.38 |
| Annualized ROI % |
17.29% |
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