Question: You are contemplating developing a 220 unit apartment complex (average unit size 900 sq. ft.) and want to do a quick feasibility. You expect market

You are contemplating developing a 220 unit apartment complex (average unit size 900 sq. ft.) and want to do a quick feasibility. You expect market rents to be about $2.25 p.s.f. (monthly). Assuming a 5% (of PGI) vacancy factor and 35% (of EGI) operating costs, what would be your expected Not for this project (rounded)? a $3,301,000 b. $2,220,000 $1,972,000 52,912,000

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