find market value

25 Use the information provided below to estimate the market value of the apartment building that has been described using the direct capitalization approach. (Answer questions 1 to 5 based on the information provided below) Type of Property: Apartment Building Number of Units: Average Rent: $1,000 per unit per month Vacancy and Collection Losses: 10% of potential gross income Other Income: $20 per unit per month Operating Expenses: 40% of effective gross income Capital Expenditures: 3% of effective gross income Going-In Cap Rate: 5.5%