ESTIMATED NET OPERATING INCOME
$272,400
($13,620)
$258,780
($41,070) actual
($3,600) est.
($8,000) est.
($1,500) est.
($5,000) est.
($6,580) actual
($14,400) free apt.
($10,351) est. @ 4%
($12,939) est. @ 5%
($2,000)
($105,340) 38.7%,
$4,052/unit
$153,440
Scheduled Gross Income:
less 5% Vacancy:
Effective Gross Income:
EXPENSES
Property taxes:
License:
Insurance:
PG&E:
Water:
Garbage:
Res. manager:
Off-site mgt.:
Maintenance:
Misc.:
Total Expenses:
NOI
VALUE INDICATORS
$1,825,000
$70,192
$125.34
8.4%
6.7
15.6%
Price:
Price/Unit:
Price/SqFt:
Cap Rate:
GRM:
Cash on Cash Return:
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Pueblo Alegre is a gated community consisting of two 4-plexes built in 1986 containing three bedroom/two bath units, and 18 studio and one-bedroom Spanish-style cottages built in 1929, with parking for all units in the rear.
Most of the units have upgraded kitchens that include granite counters, new cabinets, new appliances and tile flooring, new bathrooms, new flooring, new windows, new heaters, crown molding on walls, upgraded electrical service and much more. Two studios and two one-bedroom units are vacant and in various stages of readiness, and will be delivered “as is.”
SITE SURVEY
26 condominium units
Various
1929 and 1986
20
14,560 sq/ft per cty. rcds.
39,254 sq/ft per cty. rcds.
Wood fr. stucco and wd ext.
Garbage, common lights, water
PG&E, hot water
One and two stories
Flat and pitched, age unknown
Pergo-type, tile, carpet
Gas 23, Elec 3
26
None
Yes
Yes
Number of apartments:
Assessor’s parcel #:
Year built:
Number of buildings:
Gross square footage:
Lot Size:
Construction:
Utilities paid by owner:
Utilities paid by tenants:
Stories:
Roof type and age:
Floors:
Heat:
Off street parking:
Laundry facilities:
Intercom entry system:
Gated parking:
INVESTMENT SUMMARY
- Motivated seller—REO
- Low down payment—25%
- No bank financing—Seller to carry 1st loan
- Excellent terms—Fixed low-interest rate for 5 Years
- Big upside—Sell condos when market turns
- Good cash-on-cash return
- Possible quick close
CASH FLOW ANALYSIS
$1,825,000
($456,000)
$1,369,000
$153,440
($82,140)
$71,300
List Price:
Down Payment 25%:
Seller Carry 1st Loan
6% Int Only 5 yrs.
NOI
Debt Service
Cash Flow (estimated)
Download a PDF statement about this property
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