Ms Moore owns a 16 unit apartment complex. The market rent on each unit is $500 per
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Ms Moore owns a 16 unit apartment complex. The market rent on each unit is $500 per month. It is expected that on average, one unit will be vacant for the 3 months a year. The annual operating expenses that on average, one unit will be vacant for the 3 months each year. The annual operating expenses are estimated to be 39 percent of EGI. The annual debt service payments are estimated to be 39 percent of EGI. The annual debt service payments are estimated to be $45,000. If the overall cap rate is assumed to be 9.25%, what is the estimated value of the property?
Related Book For
Modern Advanced Accounting In Canada
ISBN: 9781259066481
7th Edition
Authors: Hilton Murray, Herauf Darrell
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