Question: 6 . Latitudes is a smaller mid - level apartment complex. The ownership of Latitudes has forecasted NOI to be around ( $

6. Latitudes is a smaller mid-level apartment complex. The ownership of Latitudes has forecasted NOI to be around \(\$ 250,000\) in the coming year. Further, they believe NOI will grow at about \(3\%\) for the next 3 years, then settle down to a more conservative \(2\%\) annually for the following 3 years. After which, growth in NOI will drop further to a long-run growth rate of \(1\%\) annually. If the required return on the investment is \(18\%\), what is the value of the property?
6 . Latitudes is a smaller mid - level apartment

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