Marketing Brochure - CBRE Marketplace

More documents

Recommendations

Info

NINETY DEGREES | BAROSSA PARADISE RIDGE | MULTIFAMILY DEVELOPMENT SITE Investment Proforma - Ninety Degrees Ninety Degrees Paradise Ridge Phoenix, Arizona Price: $58,000,000 Cap Rate: 5.21% $/Unit: $172,107 Cash on Cash: 2.69% $/Sq. Ft.: $227 INCOME SUMMARY Unit Description Unit Count Percent Mix Sq. Ft. Total Sq. Ft. Rent/Unit Rent/Sq. Ft. Monthly Rent Studio 80 24% 578 46,240 $1,062 $1.84 $84,930 1 bed / 1 bath 136 40% 713 94,216 1,245 1.80 169,260 2 bed / 1 bath 25 7% 711 17,626 1,242 1.76 31,050 2 bed / 2 bath 96 28% 1,014 97,864 1,723 1.69 165,375 Total/Avg. 337 100% 759 255,946 $1,337 $1.76 $450,615 * All square footages are approximate CURRENT MARKET RENTS - ANNUALIZED $5,407,380 Gain/(Loss) to Lease (0.75%) (40,555) GROSS POTENTIAL RENT 5,366,825 Vacancy Loss (5.0%) (268,341) Concession Loss (13.5%) (724,521) Other Rent Loss (1.0%) (53,668) NET RENTAL INCOME $/Unit 4,320,294 Guest Income 103 34,828 Utility Reimbursement 354 119,293 Other Income 350 117,847 EFFECTIVE GROSS INCOME 13,627 4,592,262 EXPENSES $/Unit $/Year Personnel 1,100 370,700 Administrative 175 58,975 <strong>Marketing</strong> & Retention 204 68,868 Repairs & Maintenance 249 83,864 Contract Services/Landscaping 172 58,067 Turnover 151 50,867 CONTROLLABLE EXPENSE SUBTOTAL 2,051 691,342 Utilities 743 250,530 Guest Expense 44 14,963 Management Fee (2.75% of EGI) 375 126,287 Insurance 135 45,495 OPERATING EXPENSE SUBTOTAL 3,349 1,128,617 Real Estate Taxes 1,104 372,066 Replacement Reserves 200 67,400 TOTAL OPERATING EXPENSES 4,653 1,568,083 NET OPERATING INCOME $8,974 $3,024,179
TWO CLASS A MULTIFAMILY COMMUNITIES & A MULTIFAMILY DEVELOPMENT SITE Investment Proforma - Barossa Paradise Ridge Barossa Paradise Ridge Phoenix, Arizona Price: $33,500,000 Cap Rate: 5.46% $/Unit: $164,216 Cash on Cash: 2.81% $/Sq. Ft.: $190 INCOME SUMMARY Unit Description Unit Count Percent Mix Sq. Ft. Total Sq. Ft. Rent/Unit Rent/Sq. Ft. Monthly Rent 1 Bed / 1 Bath 60 29% 711 42,630 $1,180 $1.66 $70,790 2 Bed / 2 Bath 123 60% 932 111,477 1,426 1.57 175,427 3 Bed / 2 Bath 21 10% 1,069 22,449 1,630 1.52 34,229 Total/Avg. 204 100% 865 176,556 $1,375 $1.59 $280,446 * All square footages are approximate CURRENT MARKET RENTS - ANNUALIZED $3,365,352 Gain/(Loss) to Lease (0.35%) (11,779) GROSS POTENTIAL RENT 3,353,573 Vacancy Loss (5.0%) (167,679) Concession Loss (13.8%) (461,116) Other Rent Loss (1.0%) (33,536) NET RENTAL INCOME $/Unit 2,691,243 Guest Income 35 7,206 Utility Reimbursement 413 84,194 Other Income 275 56,139 EFFECTIVE GROSS INCOME 13,916 2,838,782 EXPENSES $/Unit $/Year Personnel 1,100 224,400 Administrative 250 51,000 <strong>Marketing</strong> & Retention 273 55,616 Repairs & Maintenance 361 73,645 Contract Services/Landscaping 150 30,589 Turnover 177 36,153 CONTROLLABLE EXPENSE SUBTOTAL 2,311 471,403 Utilities 839 171,181 Guest Expenses 13 2,645 Management Fee (2.75% of EGI) 383 78,067 Insurance 135 27,540 OPERATING EXPENSE SUBTOTAL 3,681 750,835 Real Estate Taxes 1,067 217,677 Replacement Reserves 200 40,800 TOTAL OPERATING EXPENSES 4,948 1,009,312 NET OPERATING INCOME $8,968 $1,829,470
Page 1 and 2: WWW.CBREMARKETPLACE.COM/NINETYDEGRE
Page 3: TWO CLASS A MULTIFAMILY COMMUNITIES

Marketing Brochure - CBRE Marketplace

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?