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E-mail: aturowski@ccim.net | Alex Turowski, CCIM |
| (727) 224-1317 |
Property Address: 618 93rd Ave N St Petersburg, FL 33702 Great opportunity to purchase well maintained property in excellent location. Each unit has a central air/heat and comes with its own outside patio. The property is centrally located with easy commute to Tampa and Clearwater. Type of Property: Apartment Price: $339,000
Total Units: 8
Type of Units: Two 2 bedroom 1 bath Six 1 bedroom 1 bath (all with large walking closet) Gross Building Area: 5,147 SF Heated Building Area: 4,894 SF Lot Size: 12,700 SF (100 x 127) Exterior Walls: Block Roof: Shingle in 2005 Heat/Air Conditioning: Central Air & Heat Year Built: 1973
| FINANCIAL SUMMARY | ||||||
| CURRENT | PRO FORMA | |||||
| Sale Price | $ 370,000 | $ 333,000 | * | |||
| Down Payment | 25% | $ 92,500 | $ 83,250 | |||
| Loan Amount | $ 277,500 | $ 249,750 | ||||
| Loan Type | New | New | ||||
| Interest Rate/Amortization | 6% / 20 Years | 6% / 20 Years | ||||
| Annual Debt Service | $ 23,857 | $ 21,471 | ||||
| Debt Coverage Ratio | 1.31 | 1.83 | ||||
| Principal Reduction | $ 7,409 | $ 6,668 | ||||
| Total Expenses | $ 16,799 | $ 18,050 | ||||
| Net Operating Income | $ 31,151 | $ 39,260 | ||||
| Cap Rate | 8.42% | 11.79% | ||||
| Net Cash Flow After Debt | $ 7,294 | $ 17,789 | ||||
| Cash On Cash | 7.89% | 21.37% | ||||
| Gross Rent Multiplier | 7.71 | 5.78 | ||||
| Total Return | 15.89% | $ 14,703 | 29.38% | $ 24,456 | ||
| * Pro Forma Sale Price is calculated at 10% less than original asking price. It is not the final Sale Price nor the price the seller is willing to accept. This figure is used for Pro Forma calculation only. The final Sale Price is unknown to Wabeek Realty or to its agents. The final Sales Price is to be negotiated between the seller and the buyer. | ||||||
| The statements and figures herein while not guaranteed are secured from sources we believe authoritative | ||||||
