6 Units - Clearwater

Transcription

1 6 Units - Clearwater For more information contact: Brad Carter, CCIM [email protected] Phone: Ulmerton Rd. Suite P Largo, FL

2 Real Estate Investment Details ANALYSIS Analysis Date: March 2011 PROPERTY Property: Property Address: Year Built: Units - Clearwater PURCHASE INFORMATION Property Type: Multi-Family Purchase Price: $234,000 Units: 6 Total Rentable Sq. Ft.: 4,368 Resale Valuation 8.0% (capitalization of noi) Resale Expenses: 5.0% FINANCIAL INFORMATION Down Payment: $23,400 Closing Costs: $2,500 Discount Rate: 8.00% LOANS Debt Term Rate Payment LO Costs Fixed $210, yrs 7.0% $1,401 $4,212 INCOME & EXPENSES Gross Operating Income: $38,880 Monthly GOI: $3,240 Total Annual Expenses: ($10,032) Monthly Expenses: ($836) CONTACT INFORMATION Brad Carter, CCIM [email protected] The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projections and analysis. page 2 of 7

3 6 Units - Clearwater Property Description Brad Carter, CCIM Units in Clearwater. Two triplexes sold individually take advantage of favorable residential financing.. (30 yr amortization, lower down payment, etc..) Here s your chance to get back in the game. Not a short sale but priced like it. BLOCK CONSTRUCTION ALL 2/1 S CENTRAL A/C S (1/2 NEW) ALL UNITS TILED THROUGHOUT SEPARATE ELECTRIC AND WATER READY FOR RENT INCREASE RESIDENTIAL FINANCING (OWNER OCC.??) HIGH HISTORICAL OCCUPANCY GREAT LOCATION / EASY TO RENT page 3 of 7

4 Property Photos 6 Units - Clearwater Brad Carter, CCIM Block Construction Built in 1980 Newer A/C's All Utilities Paid by Tenant Quiet Centralized Location Easy to Manage and Rent page 4 of 7

5 6 Units - Clearwater Maps and Aerials Brad Carter, CCIM page 5 of 7

6 6 Units - Clearwater Maps and Aerials Brad Carter, CCIM page 6 of 7

7 6 Units - Clearwater Executive Summary Brad Carter, CCIM ACQUISITION COSTS Purchase Price, Points and Closing Costs $240,712 Investment - Cash $30,112 First Loan $210,600 INVESTMENT INFORMATION Purchase Price $234,000 Price per Unit $39,000 Price per Sq. Ft. $53.57 Income per Unit $7,200 Expenses per Unit ($1,672) INCOME, EXPENSES & CASH FLOW Gross Scheduled Income $43,200 Total Vacancy and Credits ($4,320) Operating Expenses ($10,032) Net Operating Income $28,848 Debt Service ($16,814) Cash Flow Before Taxes $12,034 FINANCIAL INDICATORS Cash on Cash Return Before Taxes 39.97% Optimal Internal Rate of Return (yr 10) 51.59% Debt Coverage Ratio 1.72 Capitalization Rate 12.33% Gross Rent Multiplier 5.42 Gross Income / Square Feet $9.89 Gross Expenses / Square Feet ($2.30) Operating Expense Ratio 25.80% page 7 of 7

8 Rent Roll Date: Address: No. Units: March 20, & 1769 MLK JR. AVE CLEARWATER, FL Tenant Unit Unit Type Square Feet MOL Current Rent Rent Sq. Ft. Security Deposit Move in Date Lease Ends Concessions Y/N Assistance Y/N RIVERA A 2 / $ $ /17/10 07/30/11 N N RAMIREZ B 2 / $ $ /01/10 07/30/11 N N JOSE C 2 / $ $ MTM N N BOURJAILY D 2 / $ $ /20/10 07/30/11 N N VACANT E 2 / $ MASON F 2 / $ $ /01/11 12/31/11 N N Total/Average 4350 $ 3, $ 0.69 $ 1,900.00

9 per owner 1767 & 1769 MLK JR. AVE CLEARWATER, FL Date: 03/20/11 Income Jan 2011 Feb-11 Mar-11 Apr 20_ May 20_ Jun 20_ Jul 20_ Aug 20_ Sep 20_ Oct 20_ Nov 20_ Dec 20_ Total Rental Income $3,600 $3,600 $3,000 $10,200 Other Income Laundry $0 Late Fee, NSF $0 Total Income $3,600 $3,600 $3,000 $0 $0 $0 $0 $0 $0 $0 $0 $0 $10,200 Expenses Taxes Property Taxes $364 $364 $364 $1,092 Insurance Property $300 $300 $300 $900 Salaries/Wage/Benefits Administrative $0 Maintenance $0 Maintenance $100 $100 $100 Painting & Dec. $0 Pest Control $0 Pool $0 Landscaping $0 Sub Contractors $0 Office Expenses Advertising $0 Licenses/Fees $13 $13 $13 $39 Office Supplies $0 Telephone $0 Professional Fees Legal Fees $0 Accounting $0 Managaement $0 Utilities Garbage $0 Gas $0 Electric $0 Water/Sewer $0 Misc. Expense $60 $60 $60 $180 Total Expenses $837 $837 $837 $0 $0 $0 $0 $0 $0 $0 $0 $0 $2,511 Net Ordinary Income $2,764 $2,763 $2,163 $0 $0 $0 $0 $0 $0 $0 $0 $0 $7,690 Certified True per owner YTD Date

10 6 Units - Clearwater Tax Records

11 Property Detail Report Subject Property 1767 S Martin Luther King Jr Ave Clearwater, FL Pinellas County Owner Info: Owner Name : Nguyen Heidi H Recording Date : 02/05/2004 Owner Name 2 : /Te Annual Tax : $2,299 Tax Billing Address : 2137 Sandpiper Dr County Use Code : Duplex Tax Billing City & State : Clearwater FL State Land Use Code : Multi-Fam 1-9 Units Tax Billing Zip : Universal Land Use : Duplex Tax Billing Zip+4 : 6610 Location Info: School District : Pinellas County Sd Zoning : R-4 Subdivision : Wildwood Aerial Map Pg : 0115 Census Tract : Millage Rate : Carrier Route : C031 Tax Info: Parcel # : Taxable Assessment : $104,755 Tax Year : 2010 % Improv : 89% Annual Tax : $2,299 Tax Area : LTF Assessment Year : 2010 Tax Appraisal Area : LTF Just Market Land : $11,570 Legal Description : Wildwood Lot 24 Just Market Improved : $93,185 Lot Number : 24 Just Market Total : $104,755 Characteristics: EST. HEATED SQ FT : 2,184 Floor Cover : Combination EST.TOTAL SQ FT : 2,184 Foundation : Cont. Footing Style : Square Design Stories : 1 Effective Year Built : 1988 Total Units : 3 Year Built : 1980 Total Baths : 3 Full Baths : 3 Bath Fixtures : 9 Lot Frontage : 50 # of Buildings : 1 Lot Depth : 153 Lot Acres :.1756 Cooling Type : Central Heat Type : Central Roof Material : Composition Shingle Roof Shape : Gable/Hip Interior Wall : Drywall Exterior : Block/Stucco Base : 2184 Last Market Sale: Recording Date : 02/05/2004 Deed Type : Warranty Deed Settle Date : 01/28/2004 Owner Name : Nguyen Heidi H Sale Price : $156,000 Owner Name 2 : /Te SP/Sq Ft : $71.43 Seller : Goo Gee-In & Lorna Document No : Sales History: Recording Date : 01/19/ /05/ /00/1983 Sale/Settlement Date : 01/17/ /28/ /00/1983

12 3/22/2011 Sale Price : $156,000 $86,100 Nominal : Y Buyer Name : Nguyen Heidi H Trust Nguyen Heidi H Goo Gee-In & Go Lorna Seller Name : Nguyen Heidi H Goo Gee-In & Lorna Document No : Document Type : Warranty Deed Warranty Deed Deed (Reg) Mortgage History: Mortgage Date : 02/05/ /29/1997 Mortgage Amt : $78,000 $8,512 Mortgage Lender : Countrywide Hm Lns First Union Nat'l Bk Inc Mortgage Type : Conventional Co ventional Borrower 1 : Nguyen Heidi H Features: Building Description Description Base : Bldg Size 2184

13 Property Detail Report Subject Property 1769 S Martin Luther King Jr Ave Clearwater, FL Pinellas County Owner Info: Owner Name : Nguyen Heidi H Recording Date : 02/05/2004 Owner Name 2 : /Te Annual Tax : $2,299 Tax Billing Address : 2137 Sandpiper Dr County Use Code : Duplex Tax Billing City & State : Clearwater FL State Land Use Code : Multi-Fam 1-9 Units Tax Billing Zip : Universal Land Use : Duplex Tax Billing Zip+4 : 6610 Location Info: School District : Pinellas County Sd Zoning : R-4 Subdivision : Wildwood Aerial Map Pg : 0115 Census Tract : Millage Rate : Carrier Route : C031 Tax Info: Parcel # : Taxable Assessment : $104,755 Tax Year : 2010 % Improv : 89% Annual Tax : $2,299 Tax Area : LTF Assessment Year : 2010 Tax Appraisal Area : LTF Just Market Land : $11,570 Legal Description : Wildwood Lot 23 Just Market Improved : $93,185 Lot Number : 23 Just Market Total : $104,755 Characteristics: EST. HEATED SQ FT : 2,184 Floor Cover : Combination EST.TOTAL SQ FT : 2,184 Foundation : Cont. Footing Style : Square Design Stories : 1 Effective Year Built : 1988 Total Units : 3 Year Built : 1980 Total Baths : 3 Full Baths : 3 Bath Fixtures : 9 Lot Frontage : 50 # of Buildings : 1 Lot Depth : 153 Lot Acres :.1756 Cooling Type : Central Heat Type : Central Roof Material : Composition Shingle Roof Shape : Gable/Hip Interior Wall : Drywall Exterior : Block/Stucco Base : 2184 Last Market Sale: Recording Date : 02/05/2004 Deed Type : Warranty Deed Settle Date : 01/28/2004 Owner Name : Nguyen Heidi H Sale Price : $156,000 Owner Name 2 : /Te SP/Sq Ft : $71.43 Seller : Ho Geeming V Document No : Sales History: Recording Date : 01/19/ /05/ /27/1994 Sale/Settlement Date : 01/17/ /28/ /27/1994

14 3/22/2011 Sale Price : $156,000 Nominal : Y Buyer Name : Nguyen Heidi H Trust Nguyen Heidi H Ho Geeming V Seller Name : Nguyen Heidi H Ho Geeming V Document No : Document Type : Warranty Deed Warranty Deed Deed (Reg) Mortgage History: Mortgage Date : 05/18/ /05/2004 Mortgage Amt : $90,000 $78,000 Mortgage Lender : Private Individual Countrywide Hm Lns Inc Mortgage Type : Private Party Lender Conventional Borrower 1 : Nguyen Heidi H Nguyen Heidi H Borrower 2 : Nguyen Heidi H Trust Features: Building Description Description Base : Bldg Size 2184