Thursday, February 28, 2013

8 unit building 2 hours from Ottawa

Asking Price - $539,900


8 total units - Breakdown - 4- 1 bedroom units, 3- 2 bedroom units, 1 - 3 bedroom unit.

155. $825 June 1, lease
157. $670 June 1, 13. Month to Month
159. $714 May 1, 13 lease
Apt 1 $665 July 1, 13 lease
apt 2 $975 Oct 1, 13 lease
Apt 3 $819 May 1, 13 lease
Apt 4 $845 Oct 1, 13 leased
Apt 5 $675 Jan 1, 13 lease
Total rent is $6188 / month and $74,256 per year

Expenses are as follows:
Utilities are approx. $10,800
Taxes $ 9600
Insurance $3400
Maintenance $2000
total expenses - $25,800

NET OPERATING INCOME = $48,456
Mortgage payment (assume 30% down, 4% interest, 25 year term) - $23,855.88
Deposit needed - $161,970


CASH FLOW - $24,600.12 - ($2050.12 monthly)
CAP RATE = 8.97%
Cash on Cash return - 15%

Looking for cash flowing properties within a few hours of Ottawa real estate, contact the Bennett Property Shop Realty Brokerage!


E and OE.
Proformas are for illustrative purposes only. Cash flows will vary during brief periods of vacancy


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