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 28 Unit Toronto
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This property is located in a quiet residential high demand area near Bathurst and 401. Capital items such as thermo windows, roof, heating system and domestic hot water are all in good condition or new. The building has individual smart meters and he tenants pay their own hydro
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| 28 Unit Toronto |
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| September 4, 2008 |
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| Purchase price |
$2,540,000 |
| Cap Rate |
6.10% |
| Closing costs |
$44,874 |
| Mortgage @ 75% |
$1,905,000 |
| VTB @ 10% |
$254,000 |
| Capital required |
$425,874 |
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| Monthy totals |
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| Income |
$24,982.00 |
| Effective Income |
$23,732.90 |
| Expenses |
$12,063.00 |
| First Mortgage |
$9,754.00 |
| VTB |
$1,477.28 |
| ROI Cash |
$438.62 |
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| Annual totals |
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| Income |
$299,784 |
| Expenses |
$144,756 |
| First Mortgage |
$117,048 |
| VTB |
$17,727 |
| Annual ROI Cash |
$20,253 |
| Principal recapture |
$52,423 |
| Appreciatation |
$50,800 |
| Annual ROI $ |
$123,475 |
| ROI % |
28.99% |
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| Partnership share first year |
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| Annual ROI $ |
$61,738 |
| ROI % |
14.50% |
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| 5 Year forecast |
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| Income |
$1,591,290 |
| Expenses |
$768,382 |
| First Mortgage |
$585,240 |
| Second Mortgage |
$88,637 |
| ROI Cash |
$149,031 |
| Principal recapture |
$283,405 |
| Appreciatation |
$269,653 |
| ROI $ |
$702,088 |
| Annualized ROI % |
32.97% |
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| Partnership share |
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| ROI $ |
$351,044.06 |
| Annualized ROI % |
16.49% |
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