Windsor Place Apartments

Operating InformationMULTI-RESIDENTIAL - OPERATING INFORMATIONWindsor Place8635 Old Redwood HighwayLIST APN: 064-100-024S U M M A R YP R O P O S E D F I N A N C I N GPrice: $1,285,000 Approx. Age:Down Payment: $360,000 Approx. Lot Size: 0.57 1977First Loan Amount: $925,000 New, 30 year amortizationNumber of Units: 9 Approx. Net RSF: 7,964 Term: 30 YearsCost Per Unit: $142,778 Cost Per Net RSF: $161.35 Rate: 3.50%Current GRM: 10.19 Monthly Payment: $4,154Market GRM: 9.43Current CAP: 6.08%Market CAP: 6.83%Current RentsMarket RentsA N N U A L I Z E D O P E R A T I N G D A T AScheduled Gross Income: $126,120 $136,200Less Vacancy Rate Reserve: 4% $5,045 4% $5,448Gross Operating Income: $121,075 $130,752Less Expenses: 34.06% $42,954 $42,954Net Operating Income: $78,121 $87,798 *As a % of Down PaymentLess Loan Payments: $49,844 $49,844Pre-Tax Cash Flow: 7.85% * $28,277 10.54% * $37,954Plus Principal Reduction: $17,752 $17,752Total Return Before Taxes: 12.79% * $46,029 15.47% * $55,706Current RentsMarket RentsS C H E D U L E D I N C O M EA N N U A L I Z E D E X P E N S E SNo of Units BD/ BA Approx SF Mo Rent/Unit Monthly Income Mo Rent/Unit Monthly Income Taxes New Rate 1.12% $14,3928 2/1 808 1000-1100 $8,460 $1,100 $8,800 Insurance $2,7001 5/1.5 SFR 1500 $2,000 $2,000 $2,500 $2,500 Advertising: $0On site manager $2,400Water & Sewer $7,724Gas & Electric $1,679Rubbish $5,270Landscaping (Est.) $900Total Scheduled Rent: $10,460 $11,300 Maintenance/Repair (Est.) $5,128Laundry: $50 $50 Book keeping $1,500Utility Reimbursement: Misc. $1,261Other:Parking and Storage: $0Monthly Scheduled Gross Income: $10,510 $11,350Annual Scheduled Gross: $126,120 $136,200 Total Expenses: $42,954Per Net SqFt: $5.39Per Unit: $4,773** 1.1149% plus $533.60