You manage a 15-unit property, with each unit renting for $1500/month. Additionally, you can rent 10 parking
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You manage a 15-unit property, with each unit renting for $1500/month. Additionally, you can rent 10 parking spots for an additional $80/month each. Your property has a 10% vacancy and a 2% credit loss. The annual property tax = $40K, insurance = 15K, mortgage payments = $40K, Capex allowances = $15K, utilities = $10K, and operational expenses = $14K. There is an annual expense recovery of $8K from all tenants combined.
What is the annual net operating income (NOI)?
Related Book For
Real Estate Finance and Investments
ISBN: 978-0073377339
14th edition
Authors: William Brueggeman, Jeffrey Fisher
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