The building is a 24 Suite (6X1Br, 18X2Br) apartment block constructed in the 1960’s.
It is of wood frame construction with concrete block & some siding exterior.
All above ground suites have balconies and A/C.
All suites have fridges and stoves;.
Suite sizes are as follows: 1Br – 650 sq ft, 2Br – 800 sq ft (approximately).
New roof in 1998 ($28,226).
Rents as at August 1, 2008
1BR $525
2BR $625
Pro-Forma
Income:
Rent
172,800
Laundry
2,880
Vacancy
(2,000)
Gross
173,680
Expenses
Advertising
500
Caretaker
5,760
Insurance
2,000
Management
8,500
Property Tax
15,618
R+M
12,000
Utilities
22,000
Total Expenses
66,378(38%)
Net Profit
107,302
Note: Based on information presented by the owner
Disclaimer: Del
Peters Realty received the above information contained
in this proforma from sources deemed reliable but do not guarantee
same. Each investor must rely on their own investigation of
the salient facts.
