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 8 Unit Toronto
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This property is vacant of tenants which equals opportunity for the right person. Spend a little time picking a quality tenant profile and take advantage of the possible upside. The building may be vacant but it has been well cared for with new thermo vinyl windows in 2008, new HWG gas boiler in 2007, and new roof in 1999, and recently freshly painted throughout. Fridges & stoves are not included.
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| 8 Unit Toronto |
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| September 4, 2008 |
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| Purchase price |
$460,000 |
| Cap Rate |
8.61% |
| Closing costs |
$16,316 |
| Mortgage @ 75% |
$345,000 |
| VTB @ 10% |
$46,000 |
| Capital required |
$85,316 |
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| Monthy totals |
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| Income |
$6,150.00 |
| Effective Income |
$5,842.50 |
| Expenses |
$2,848.08 |
| First Mortgage |
$2,121.94 |
| VTB |
$267.54 |
| ROI Cash |
$604.94 |
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| Annual totals |
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| Income |
$73,800 |
| Expenses |
$34,177 |
| First Mortgage |
$25,463 |
| VTB |
$3,210 |
| Annual ROI Cash |
$10,949 |
| Principal recapture |
$7,553 |
| Appreciatation |
$9,200 |
| Annual ROI $ |
$27,702 |
| ROI % |
32.47% |
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| Partnership share first year |
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| Annual ROI $ |
$13,851 |
| ROI % |
16.24% |
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| 5 Year forecast |
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| Income |
$391,739 |
| Expenses |
$181,415 |
| First Mortgage |
$127,316 |
| Second Mortgage |
$16,052 |
| ROI Cash |
$66,955 |
| Principal recapture |
$42,224 |
| Appreciatation |
$48,835 |
| ROI $ |
$158,014 |
| Annualized ROI % |
37.04% |
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| Partnership share |
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| ROI $ |
$79,006.90 |
| Annualized ROI % |
18.52% |
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