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 36 Unit Belleville
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Three 12 plex buildings located on one property in high demand area of Belleville. Building is fully occupied with an excellent family oriented tenant profile. Excellent suite mix for families and an elementary school next door. Lots of parking for family’s with more then one car. Treat financing as clear. Above mortgage example is CMHC financing rates.
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| 36 Unit Belleville |
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| September 4, 2008 |
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| Purchase price |
$2,125,000 |
| Cap Rate |
7.02% |
| Closing costs |
$39,176 |
| Mortgage @ 75% |
$1,593,750 |
| VTB @ 10% |
$212,500 |
| Capital required |
$357,926 |
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| Monthy totals |
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| Income |
$26,247.00 |
| Effective Income |
$24,934.65 |
| Expenses |
$13,819.08 |
| First Mortgage |
$9,142.70 |
| VTB |
$1,235.91 |
| ROI Cash |
$736.96 |
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| Annual totals |
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| Income |
$314,964 |
| Expenses |
$165,829 |
| First Mortgage |
$109,712 |
| VTB |
$14,831 |
| Annual ROI Cash |
$24,592 |
| Principal recapture |
$38,182 |
| Appreciatation |
$42,500 |
| Annual ROI $ |
$105,273 |
| ROI % |
29.41% |
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| Partnership share first year |
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| Annual ROI $ |
$52,637 |
| ROI % |
14.71% |
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| 5 Year forecast |
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| Income |
$1,671,867 |
| Expenses |
$880,240 |
| First Mortgage |
$548,562 |
| Second Mortgage |
$74,155 |
| ROI Cash |
$168,910 |
| Principal recapture |
$210,706 |
| Appreciatation |
$225,595 |
| ROI $ |
$605,212 |
| Annualized ROI % |
33.82% |
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| Partnership share |
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| ROI $ |
$302,605.89 |
| Annualized ROI % |
16.91% |
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