Question: You are contemplating developing a 230 unit apartment complex (average unit size 900 sq. ft.) and want to do a quick feasibility. You expect market

You are contemplating developing a 230 unit apartment complex (average unit

You are contemplating developing a 230 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 NOI for this project (rounded)? $3,301,000 O a. $2,220,000 Ob. $3,451,000 . . $2.912,000 w O d

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