|
Distribution |
|
Demographics |
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||
|
|
Studios | 5 |
|
Existing Tenants | 10 |
|
|
|
One Bedrooms | 13 |
|
Low/Moderate Income | 16 |
|
|
|
Two Bedrooms | 9 |
|
Management | 1 |
|
|
|
Total | 27 |
|
Total | 27 |
|
|
|
*2 commercial spaces not included
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|
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|||
|
|
Development Costs |
|
Financing |
|
||
|
|
Acquisition | 1,538,000 |
|
Private: 52/10th Associates LLC | 6,364,358 |
|
|
|
Soft Costs | 894,500 |
|
Total | 6,364,358 |
|
|
|
Construction | 3,880,000 |
|
|
||
|
|
Capital Reserves | 51,858 |
|
|
||
|
|
Total
|
6,364,358
|
|
|
||
|
|
Construction Cost per Unit: 143,704 Total Development cost per unit: 235,717
|
|||||
|
|
Annual Expense |
|
Annual Income |
|
||
|
|
Operating | 169,098 |
|
Rental Income | 184,005 |
|
|
|
|
Commercial Income | 43,785 |
|
||
|
|
|
Interest Income | 749 |
|
||
|
|
|
Net Revenue
|
228,539
|
|
||
|
|
|
Surplus/Deficit | 59,442 |
|
||
|
|
|
Operating Coverage | 135% |
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