PRICE REDUCTION ~ Apartments For Sale

Transcription

1 PRICE REDUCTION ~ Apartments For Sale Baugh/Gopal Streets & Middleton Street, Orangeburg, SC Apartments located on Baugh & Gopal Streets just off Columbia Road near Chestnut. Six 4plexes(2,464 +/ Sq Ft/4plex), 3 Duplexes(1,551 +/ Sq Ft/Duplex) & 1 Studio Apartment(720 +/ Sq Ft): Each Unit features 2 BRs, 1 Bath, Den, Kitchen & Utility Room, except the Studio Apartment w/1 BR & 1 Bath. Central HVAC, City Utilities & Concrete Parking Area. Units Built between 1990 & Tax Map #s: (1.26 +/ Acres) & a Portion of TMS#: (0.37 +/ Acres) County Property Taxes: $19, Financials and Plat are Available. Now Available for $1,100, ($37, per Unit) For Additional Information, please contact: R. Cal Bruner, Jr Ann Young ayoung@c21themooregroup.com

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3 Middleton Street 4Plex Apartments located at 1754 Middleton Street near the Post Office. 1 4plex Apartment Building (2,920 +/ Sq Ft): Each Unit features 2 BRs, 1 Bath, Den, Kitchen & Utility Room. Central HVAC, City Utilities & Concrete Parking Area. Built in Tax Map #: (0.41 +/ Acres) 2016 Property Taxes: $3, (County) $ (City). Financials and Plat are Available. PRICE REDUCTION ~ Now Available for $164, ($41, per Unit)

4 Interior Photos

5 Plats Baugh & Gopal Streets

6 Plat Middleton Street

7 Property Name Gopal Apartments Annual Property Operating Data Location Type of Property Size of Property Purpose of analysis Baugh Street MultiFamily Multiple (Sq. Ft./Units) Purchase Price Plus Acquisiition Costs Plus Loan Fees/Costs Less Mortgages Equals Initial Investment 1,100,000 1,100,000 Assessed/Appraised Values Land 0 15% Improvements 0 85% Amort Loan Personal Property 0 0% Balance Periodic Pmt Pmts/Yr Interest Period Term Total 0 100% 1st 12 2nd 12 Adjusted Basis as of 4Apr17 $1,100,000 $/SQ FT % ALL FIGURES ARE ANNUAL or $/Unit of GOI COMMENTS/FOOTNOTES 1 POTENTIAL RENTAL INCOME 190, Rent Actually Collected: $182,000 2 Less: Vacancy & Cr. Losses ( 5.% of PRI ) 9,500 3 EFFECTIVE RENTAL INCOME 180,500 4 Plus: Other Income (collectable) 5 GROSS OPERATING INCOME 180,500 OPERATING EXPENSES: 7 Real Estate Taxes 19, Personal Property Taxes Property Insurance 9, Off Site Management Payroll Expenses/Benefits Taxes/Worker's Compensation Repairs and Maintenance Utilities: 15 Electric 8, Water 17 Repairs 14, Accounting and Legal 2, Licenses/Permits Advertising Supplies 7, Miscellaneous Contract Services: 24 Fire Contract 25 Garbage Collection 26 Grounds 1, TOTAL OPERATING EXPENSES 64, NET OPERATING INCOME 115,986 Cap Rate: 115,986/1,100,000 = 10.5% 31 Less: Annual Debt Service 32 Less: Participation Payments (from Assumptions) 33 Less: Leasing Commissions 34 Less: Funded Reserves 35 CASH FLOW BEFORE TAXES 115,986 Authored by Gary G. Tharp, CCIM Copyright 2006 by the CCIM Institute The statements and figures herein, while not guaranteed, are secured from sources we believe authoritative. Prepared for: Prepared by:

8 Property Name Gopal Apartments Annual Property Operating Data Location Type of Property Size of Property Purpose of analysis Assessed/Appraised Values Land 0 15% Improvements 0 85% Amort Loan Personal Property 0 0% Balance Periodic Pmt Pmts/Yr Interest Period Term Total 0 100% 1st 12 2nd 12 Adjusted Basis as of: 4Apr17 $164,000 $/SQ FT % ALL FIGURES ARE ANNUAL or $/Unit of GOI COMMENTS/FOOTNOTES 1 POTENTIAL RENTAL INCOME 26, Actual Rents Collected:$23,307 2 Less: Vacancy & Cr. Losses ( 5.% of PRI ) 1,320 3 EFFECTIVE RENTAL INCOME 25,080 4 Plus: Other Income (collectable) 5 GROSS OPERATING INCOME 25,080 OPERATING EXPENSES: 7 Real Estate Taxes 7, Personal Property Taxes Property Insurance 1, Off Site Management Payroll Expenses/Benefits Taxes/Worker's Compensation Repairs and Maintenance 1,896 Utilities: 15 Electric 1, Water 17 Repairs Accounting and Legal Licenses/Permits Advertising Supplies Miscellaneous Contract Services: Middleton Street MultiFamily 4plex (Sq. Ft./Units) Purchase Price Plus Acquisiition Costs Plus Loan Fees/Costs Less Mortgages Equals Initial Investment 24 Fire Contract 25 Garbage Collection 26 Grounds TOTAL OPERATING EXPENSES 11, NET OPERATING INCOME 13, Less: Annual Debt Service 32 Less: Participation Payments (from Assumptions) 33 Less: Leasing Commissions 34 Less: Funded Reserves 35 CASH FLOW BEFORE TAXES 13, , ,000 Cap Rate: 13309/164000= 8% Authored by Gary G. Tharp, CCIM Copyright 2006 by the CCIM Institute The statements and figures herein, while not guaranteed, are secured from sources we believe authoritative. Prepared for: Prepared by: