FANTASTIC 14% CAP RATE - CA$$$H COW

FILE#226 Bill Twyford billtwyford@aol.com

303-870-8851

242 E 28th Street, Bklyn, New York, 11226

4 story Walk up, 31 Units

9 - 2 bedrooms and 22 - 1 bedrooms

Asking Price $1,200,000 (firm)

CAP Rate = 14%

Estimated Expenses
Monthly Mortgage Payment
(including Escrow for taxes and water & sewage) $12,000

Yearly Mtg $144,000

Fuel $32,000
Insurance $12,400
Payroll (Super) $10,000
Maintenance $12,400
Electric $3,500

**Taxes ($27,500) Escrowed within mortgage

**Water & Sewage ($12,400) Also escrowed
________________________________________________
Total Expenses $214,300
Gross Rental Income (yearly) $384,090
Net Yearly Operating Income$169,790

Numbers do not include Lease renewal income as 15 of the 31 units are up for renewal at the
end of 12/31/09 into 2010. Lease increase will be 5% on each of the 15 units as all tenants want
and will stay. Maintenance will be cut down to $6,000. We will do our own maintenance.
$1,000,000 will buy a 31 unit building that's worth over $3,000,000.

Apt# Rents
1A $776.88
1B $870.63
1C $815.09
1D $1157.88
2A $688.24
2B $1094.00
2C $1094.00
2D $1062.00
3A $902.49
3B $1050.00
3C $901.84
3D $1100.00
4A $1008.00
4B $994.00
4C $994.00
4D $1078.15
5A $870.68
5B $1100.00
5C $1068.88
5D $1100.00
6A $1045.00
6B $749.50
6C $714.75
6D $1057.00
7A $832.00
7B $822.00
7C $1062.00
7D $1018.00
8A $975.00
8B $981.00
8C $1060.00

TOTAL: $32,007.55 per month

Yearly Gross Income $384,090.60
$25,000 Non-Refundable Earnest Money Deposit required on signing of contract.
Need a quick close Cash Buyer!