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MULTI -
FAMILY STAT / PROFORMA SHEET |
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Property
Address: |
Chouteau
Heights |
Reece & Nichols Realtors |
City: |
Kansas City |
State: |
MO |
Zip |
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BRICE
BRADSHAW |
Date: |
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Listing Price: |
$4,300,000 |
Phone: |
913-219-7074 |
MLS No. |
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Fax: |
913-901-6450 |
Directions: |
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BILL HARGIS 913-901-6352 |
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 |
22 |
1 |
1 |
$565 |
$12,430 |
$149,160 |
$575 |
$12,650 |
$151,800 |
29 |
2 |
1 |
$615 |
$17,835 |
$214,020 |
$630 |
$18,270 |
$219,240 |
25 |
2 |
1.5 |
$630 |
$15,750 |
$189,000 |
$660 |
$16,500 |
$198,000 |
0 |
0 |
0 |
$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
0 |
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$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
0 |
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$0 |
$0 |
$0 |
$0 |
$0 |
$0 |
TOTALS |
$46,015 |
$552,180 |
TOTALS |
$47,420 |
$569,040 |
PROFORMA |
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ß |
6 |
GROSS SCHEDULED INCOME: |
$552,180 |
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% GSI |
% GSI |
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$569,040 |
7 |
Vacancy and Credit Losses: |
$27,609
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¬ |
5.0% |
5.0% |
® |
$28,452 |
8 |
Other Income: |
$14,200 |
¬ |
2.6% |
2.5% |
® |
$14,200 |
9 |
ADJUSTED GROSS INCOME (L6-(L7+L8)): |
$538,771 |
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% AGI |
% AGI |
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$554,788 |
10 |
Accounting and Legal: |
$4,500 |
¬ |
0.8% |
0.8% |
® |
$4,500 |
11 |
Advertising: |
$2,500 |
¬ |
0.5% |
0.5% |
® |
$2,500 |
12 |
Repair and Maintenance: |
$48,000 |
¬ |
8.9% |
8.7% |
® |
$48,000 |
13 |
Insurance: |
$18,434 |
¬ |
3.4% |
3.3% |
® |
$18,434 |
14 |
Management: |
$52,457 |
¬ |
10.0% |
10.0% |
® |
$54,059 |
15 |
Taxes: |
$29,500 |
¬ |
5.5% |
5.3% |
® |
$29,500 |
16 |
Refuse: |
$6,864 |
¬ |
1.3% |
1.2% |
® |
$6,864 |
17 |
Electric: |
$7,900 |
¬ |
1.5% |
1.4% |
® |
$7,900 |
18 |
Gas: |
$15,300 |
¬ |
2.8% |
2.8% |
® |
$15,300 |
19 |
Water and Sewer: |
$14,800 |
¬ |
2.7% |
2.7% |
® |
$14,800 |
20 |
Other: |
Pool and Pest Control: |
$2,000 |
¬ |
0.4% |
0.4% |
® |
$2,000 |
21 |
Total Expenses(sum L10 - L20): |
$202,255 |
¬ |
37.5% |
36.7% |
® |
$203,857 |
22 |
Net Operating Income(L9 minus L21): |
$336,516
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$350,931 |
23 |
Less Annual Debt Service: |
267,741 |
¬ |
49.7% |
48.3% |
® |
267,741 |
24 |
Net Income (Cash Flow) L22-L23): |
68,775 |
|
83,190 |
25 |
CAP RATE (NOI ¸ PURCHASE PRICE): |
7.83% |
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8.16% |
26 |
RETURN ON INVESTMENT (NI
¸ DOWN): |
8.00% |
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9.67% |
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Estimated Financing |
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Purchase
Price: |
$4,300,000 |
6.75% |
:Interest |
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20% |
Down: |
$
860,000 |
30 |
:Years Amortized |
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Amount
Financed: |
$3,440,000 |
$ 22,311.77 |
:P&I Monthly Payment |
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Description: |
Unbeatable location and very attractive French style complex
featuring 7 buildings in excellent condition. The units are exceptionally
spacious with ceiling fans, mini-blinds, great window lighting and walk-in
closets. Two bedroom units feature dishwashers. Each building has their own
laundry room, fire walls, a mail center and storage lockers. Complex features a clubhouse, swimming
pool, 2 courtyards, assigned parking and plenty of visitor parking. Property
truly stands out and has great curb appeal.
Each unit is individually metered for gas and electric with common
water and hot water. Windows were replaced approximately 10 years ago.
Complex sits adjacent to the large open air mall redevelopment project at
Antioch Center. Complex is minutes
from Downtown Kansas City, is close to public transportation and I-35. Great
as apartments or condo opportunity. |
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This property summary includes
assumptions, which represent a projection of future events and assumptions
which may or may not occur.
Absolutely no tax or legal advice is being implied or given. These projections may not and should not
be relied upon to indicate results, which might be obtained. Income collected and expenses incurred
will vary depending upon the type of management employed. Therefore, all information provided is
solely for the purpose of permitting parties to determine whether or not the
property is of such type and general character as might interst them in this
purchase, and Reece and Nichols and Nichols Realtors/Hargis Real Estate Group
makes no warranty as to the accuracy of such information. Interested persons are expected to
acquaint themsleves with the property and arrive at their own conclusions as
to physical condition, number and occupancy of revenue producing units,
estimates of operating costs, tax matters and any factors having to do with
the valuation of property. |
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