Pocket Deal : 8 plex selling for 128k all in
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The document outlines financial details related to two property acquisitions, including 8 units of 2-bedroom and 1-bedroom apartments. It provides information on acquisition prices, potential gross income, effective gross income, operating expenses, and net operating income (NOI) for each unit type, along with calculated cap rates. The financial metrics indicate significant income potential and projected expenses for both property types.
Pocket Deal : 8 plex selling for 128k all in
- 1. 123 Go Properties Presents 8 unit 2 bedroom breakdown Acquisition Price Acquisition price: $104,000 Stabilization 24,000 Total: $128,000 Income: Average rent Months Total $565.00 8 12 54,240 Total Potential Gross Income 54,240 Vacancy and collection losses 20% 54,240 10,848 Effective Gross Income 43,392 Operating expenses Description Item Units/Months Total Management labor 2,500 Common area electric 333 Reserves for replacements 300 8 2,400 General and Administrative 889 Water/Sewer/Trash 1,000 Maintenance labor 2,500 Pest Control and landscaping 592 Concessions 1200 1,200 Advertising 177 Maintenance/Turnkey 2000 2,000 Taxes (actual) 2,182 3,595.00 Insurance 1,168 Management Fees 2,712 Total Operating costs 19,653 Gross Income 54,240 Total NOI 34,587 Pro Forma Cap Rate: 27.02%
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- 3. 8 unit 1 bedroom breakdown Acquisition Price Acquisition price: $88,000 Stabilization 24,000 Total: $112,000 Income: Average rent Months Total $458.00 8 12 43,968 Total Potential Gross Income 43,968 Vacancy and collection losses 20% 43,968 8,794 Effective Gross Income 35,174 Operating expenses Description Item Units/Months Total Management labor 2,500 Common area electric 333 Reserves for replacements 300 8 2,400 General and Administrative 889 Water/Sewer/Trash 1,000 Maintenance labor 2,500 Pest Control and landscaping 592 Concessions 1,200 Advertising 177 Maintenance/Turnkey 1500 1,500 Taxes (actual) 2,182 3,595.00 Insurance 1,168 Management Fees 2,200 Total Operating costs 18,641 Gross Income 43,968 Total NOI 25,327 Pro Forma Cap Rate: 22.61%
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