MULTI - FAMILY STAT / PROFORMA SHEET          
Property Address: Chouteau Heights Reece & Nichols Realtors
City: Kansas City State: MO Zip   BRICE BRADSHAW
Date:     Listing Price: $4,300,000 Phone: 913-219-7074
MLS No.     Fax:                913-901-6450
Directions:   BILL HARGIS 913-901-6352
www.kccommercial.net
Unit Description    Current Rental Data        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     $0 $0 $0 $0 $0 $0
0     $0 $0 $0 $0 $0 $0
TOTALS $46,015 $552,180 TOTALS $47,420 $569,040
 PROFORMA ß         ß
6          GROSS SCHEDULED INCOME: $552,180   % GSI % GSI   $569,040
7        Vacancy and Credit Losses: $27,609 ¬ 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   % AGI % AGI   $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         $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% 8.16%
26 RETURN ON INVESTMENT (NI ¸ DOWN): 8.00% 9.67%
           Estimated Financing              
Purchase Price: $4,300,000 6.75% :Interest      
20%  Down:  $          860,000 30 :Years Amortized    
Amount Financed: $3,440,000  $ 22,311.77 :P&I Monthly Payment          
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.
 
 
 
 
 
 
 
 
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.