514 12th Street East, Saskatoon, SK |
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| Asking Price: |
$850,000 |
| Mortgage: |
Clear Title |
| Legal: |
Lots 19 + 20, Blk A3, Plan A955 |
| Taxes: |
2007 $9,097 |
| Land Size: |
50x140 sq ft= 7000 sq ft |
| Building Description: |
- 12 suite apartment block, constructed mid 1960’s. (1 bachelor, 6x1BR,
- 5x2BR)All suites have been refinished in the past 5 years.12 F, 12S, 8 A/C, 12
- parking stalls electrified.
- New common area carpet and paint.
- ½ block west of Broadway Ave., a very fashionable district.
- Total brick exterior.
- Well maintained and located building.
- Rates as at December 1, 2007 (1 at $425, 6 x $525, 3 at 600, 2 x $650).
- Building has 2 water heaters, one is new.
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| |
|
March 31st, 06 |
|
March 31st, 07 |
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ProForma
Dec 1st, 07 |
|
| Revenue |
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$ 59,238 |
|
$ 64,937 |
|
$ 80,100 |
(i) |
| Laundry |
|
$ 821 |
|
$ 1,313 |
|
$600 |
|
| Vacancy |
|
$______ |
|
$______ |
|
$ (2,400) |
|
| Gross Rent |
|
$ 60,059 |
|
$ 66,250 |
|
$ 78,300 |
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| |
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|
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|
| Expenses |
|
|
|
|
|
|
|
| Advertising |
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$ 154 |
|
$ 510 |
|
$ 500 |
|
| Caretaker |
|
|
|
|
|
$ 2,300 |
|
| Insurance |
|
$ 1,813 |
|
$ 1,580 |
|
$ 2,000 |
|
| R&M |
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$ 9,956 |
|
$ 15,016 |
|
$ 6,000 |
|
| Taxes |
|
$ 9,158 |
|
$ 8,960 |
|
$ 9,097 |
|
| Utilities |
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$ 11,284 |
|
$ 8,468 |
|
$ 9,000 |
|
| Total |
|
$ 32,365 |
(54%) |
$ 34,534 |
(52%) |
$ 28,897 |
(37%) |
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|
|
|
|
|
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| Surplus |
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$ 27,694 |
|
$ 31,716 |
|
$ 49,403 |
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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. |
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