MULTI - FAMILY STAT / PROFORMA
SHEET |
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Property
Address: |
3560 Broadway
(Ambassador Apartments) |
BILL
HARGIS CRS, RECS |
City: |
Kansas City |
State: |
Mo. |
Zip: |
64111 |
Reece
& Nichols Realtors |
Date: |
51503 |
Listing Price: |
$3,275,000 |
Phone: |
913-901-6352 |
MLS No. |
1032674 |
|
Fax: |
913-381-4340 |
Directions: |
|
[email protected] |
www.kccommercial.net |
Unit Description |
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Current Rental Data |
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Market
Rental Data |
# of Units |
# Bed |
# Bath |
Unit Rent |
Mo. Rent |
Yearly Rent |
Unit Rent |
Mo. Rent |
Yearly Rent |
162 |
Studio |
1 |
$0 |
$67,197 |
$806,364 |
0 |
$72,066 |
$864,792 |
34 |
1 |
1 |
$0 |
$0 |
$0 |
0 |
|
|
1 |
2 |
1 |
$0 |
$0 |
$0 |
0 |
$0 |
$0 |
COMMERCIAL |
0 |
0 |
$0 |
$1,000 |
$12,000 |
0 |
$8,333 |
$99,996 |
0 |
0 |
0 |
$0 |
$0 |
$0 |
0 |
$0 |
$0 |
0 |
0 |
0 |
$0 |
$0 |
$0 |
0 |
$0 |
$0 |
TOTALS |
$68,197 |
$818,364 |
TOTALS |
$80,399 |
$964,788 |
PROFORMA |
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ß |
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ß |
6 |
GROSS SCHEDULED INCOME: |
$818,364 |
|
% GSI |
% GSI |
|
$964,788 |
7 |
Less Vacancy and Credit Losses: |
$81,836
|
¬ |
10.0% |
10.0% |
® |
$96,479 |
8 |
Other Income: Laundry, Vending, Phone, Refuse
Refend, Etc. |
$15,000 |
¬ |
1.8% |
1.6% |
® |
$15,000 |
9 |
ADJUSTED GROSS INCOME (L6-(L7+L8)): |
$751,528 |
|
% AGI |
% AGI |
|
$883,309 |
10 |
Less Accounting and Legal: |
$11,579
|
¬ |
1.5% |
1.3% |
® |
$11,579 |
11 |
Less Advertising: |
$6,792 |
¬ |
0.9% |
0.8% |
® |
$6,792 |
12 |
Less Repair and Maintenance: |
$52,967
|
¬ |
7.0% |
6.0% |
® |
$52,967 |
13 |
Less Insurance: |
$31,758 |
¬ |
4.2% |
3.6% |
® |
$31,758 |
14 |
Less Management; |
$29,461 |
¬ |
0.0% |
0.0% |
® |
$29,461 |
15 |
Less Taxes: |
$17,000
|
¬ |
2.3% |
1.9% |
® |
$17,000 |
16 |
Trash |
$3,004 |
¬ |
0.4% |
0.3% |
® |
$3,004 |
17 |
Elevator Service; |
$5,378 |
¬ |
0.7% |
0.6% |
® |
$5,378 |
18 |
Security |
$8,297 |
¬ |
1.1% |
0.9% |
® |
$8,297 |
19 |
Payroll: |
$73,378
|
¬ |
9.8% |
8.3% |
® |
$73,378 |
20 |
Less Other: |
Utilities |
$123,120
|
¬ |
16.4% |
13.9% |
® |
$123,120 |
21 |
Total Expenses(sum L10 - L20): |
$362,734 |
¬ |
48.3% |
41.1% |
® |
$362,734 |
22 |
Net Operating Income(L9 minus L21): |
$388,794 |
|
|
|
|
$520,575 |
23 |
Less Annual Debt Service: |
209,171 |
¬ |
27.8% |
23.7% |
® |
209,171 |
24 |
Net Income (Cash Flow) L22-L23): |
179,622 |
|
311,404 |
25 |
CAP RATE (NOI ¸ PURCHASE PRICE): |
11.87% |
|
15.90% |
26 |
RETURN ON INVESTMENT (NI
¸ DOWN): |
27.42% |
|
47.54% |
|
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Estimated Financing |
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|
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Purchase
Price: |
$3,275,000 |
7.00% |
:Interest |
|
|
|
|
|
|
20% |
Down: |
$
655,000 |
30 |
:Years Amortized |
|
|
|
|
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Amount
Financed: |
$
2,620,000 |
$
17,430.93 |
:P&I Monthly Payment |
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|
|
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Description: |
197
UNIT KANSAS CITY LANDMARK WITH APPROXIMATELY 12,000 SF OF COMMERCIAL SPACE TO
BE RENTED FOR ADDITIONAL INCOME. CURRENTLY ONLY 1,000 SF OF COMMERCIAL SPACE
IS LEASED. MUCH UPDATING IN 1983 AND 1990. SOME ITEMS INCLUDE ELECTRICAL,
DOUBLE PANE THERMAL WINDOWS, ETC. ASBESTOD WAS REMOVED IN 1995. THE PASSENGER
ELEVATOR WAS UPDATED IN 2000. MORE
INFO AT WWW.KCCOMMERCIAL.NET. |
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Information deemed
reliable but not guaranteed |
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