| Asking Price: |
$920,000 |
| Mortgage: |
Treat as clear title |
| Legal: |
Lot 7, Blk 281, Plan 60506500 |
| Building Description: |
- 11 suites, Concrete construction
- 5 x 1Br (approx. 495 sq ft)
- 6 x 2Br (approx. 700 sq ft)
- 2 A/C
- New R-30 type 4 slope roof in 2006, 10 yr warranty at a cost of $36,000
- New boiler and water heater in 2009 at a cost of $20,000, estimated cost savings in utilities of 16%
- Mahogany cupboards
- There are 7 parking stalls on site and parking lot is concrete.
- Very clean and well maintained building in an excellent location
|
Operating Results
| |
|
Dec. 31/09 |
|
ProForma (Current) |
| Revenue - Rent |
|
$ 91,565 |
|
$101,820 |
| Laundry |
|
$ 820 |
|
$ 1,000 |
| Vacancy |
|
$______ |
|
$ (1,500) |
| Gross |
|
$ 92,385 |
|
$ 101,320 |
| |
|
|
|
|
| Expenses |
|
|
|
|
| Advertising |
|
$ 25 |
|
$ 200 |
| Caretaker |
|
$ 1,328 |
|
$ 3,300 |
| Insurance |
|
$ 1,594 |
|
$ 2,000 |
| Management |
|
$ 2,500 |
|
|
| R&M (upgrades) |
|
$ 3,860 |
|
$ 8,250 |
| Taxes |
|
$ 6,374 |
|
$ 6,243 |
| Utilities |
|
$ 11,979 |
|
$ 10,000 |
| Total |
|
$ 27,660 |
|
$ 29,993 |
|
|
|
|
|
| Surplus |
|
$ 64, 725 |
|
$ 71,327 |
|
|
