ESTIMATED NET OPERATING INCOME
$125,160
($6,258)
$118,902
($16,275) est.
($1,500) est.
($4,160) current
($1,000) est.
($5,000) est.
($6,580) actual
($3,600) est.
($5,000) est.
($1,000)
($32,535)
$86,367
Scheduled Gross Income:
less 5% Vacancy:
Effective Gross Income:
EXPENSES
Property taxes:
License:
Insurance:
Utilities:
Water:
Garbage:
Res. manager:
Off-site mgt.:
Maintenance:
Misc.:
Total Expenses:
NOI
VALUE INDICATORS
$1,050,000
$103.89
$125.34
8.2%
8.4
7.9%
Price:
Price/Unit:
Price/SqFt:
Cap Rate:
GRM:
Cash on Cash Return:
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Two of the retail tenants are well established and have leases through 2012 with annual rent increases in January. The middle space is currently vacant.
The two residential flats are approximately 1,200 sq. ft. each and consist of 2+ bedrooms and one bath. They are rented to long-term younger tenants on a month-to-month basis at below market rents.
Building owners in the area have successfully converted upstairs apartments to offices.
The retail tenants pay all utilities. The owner pays garbage and water for the flats. The property is easy to manage. The sale is to be in “as-is” condition.
SITE SURVEY
Three retail, two apartments
013-1151-018-00
1913
2
10,106 sq/ft per cty. rcds.
8,575 sq/ft
Wood frame
Retail, none;
Apartments, water and garbage
Retail, all: Apartments, PG&E
Two
Unknown
Wood
Various
None
None
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:
INVESTMENT SUMMARY
- Motivated seller, absentee owner
- Low down payment—25%
- No bank financing—Seller to carry 1st loan
- Excellent terms—6% interest amoritized over 20 years
- Quick close
- 8.2% cap rate with upside in rents
CASH FLOW ANALYSIS
$1,050,000
($250,000)
$775,000
$86,367
($66,624)
$19,743
List Price:
Down Payment 24%:
Seller Carry 1st Loan
6% Interest
20 years $66,624 yr.
NOI
Debt Service
Cash Flow (estimated)
Download a PDF statement about this property
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. PCLC, Inc. Property Counselors Link Corkery—Copyright 2009—Confidential
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