Cash Flow

Union Tempe (Amounts in USD)

Jan, 2025 through Dec, 2035
12/23/2024 12:45:14 PM

Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast Forecast

Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11
For the Years Ending Dec-2025 Dec-2026 Dec-2027 Dec-2028 Dec-2029 Dec-2030 Dec-2031 Dec-2032 Dec-2033 Dec-2034 Dec-2035 Total

Rental Revenue
Potential Base Rent 10,07,057 10,19,313 10,27,818 10,36,071 10,28,818 10,31,205 10,25,476 10,25,455 10,30,077 10,48,669 10,88,983 1,13,68,942
Absorption & Turnover Vacancy -2,46,217 -60,624 0 0 -1,30,414 -56,759 -62,150 0 0 0 0 -5,56,164
Scheduled Base Rent 7,60,840 9,58,689 10,27,818 10,36,071 8,98,404 9,74,446 9,63,326 10,25,455 10,30,077 10,48,669 10,88,983 1,08,12,778
Total Rental Revenue 7,60,840 9,58,689 10,27,818 10,36,071 8,98,404 9,74,446 9,63,326 10,25,455 10,30,077 10,48,669 10,88,983 1,08,12,778

Other Tenant Revenue

Total Expense Recoveries 1,41,902 1,88,660 2,08,273 2,14,521 2,05,177 2,48,331 2,45,006 2,77,175 2,85,490 2,94,055 3,02,876 26,11,466
Total Other Tenant Revenue 1,41,902 1,88,660 2,08,273 2,14,521 2,05,177 2,48,331 2,45,006 2,77,175 2,85,490 2,94,055 3,02,876 26,11,466

Total Tenant Revenue 9,02,742 11,47,349 12,36,091 12,50,593 11,03,581 12,22,777 12,08,332 13,02,629 13,15,567 13,42,724 13,91,859 1,34,24,244

Multifamily Revenue
Studio 16,26,444 17,58,567 18,11,324 18,65,664 19,21,634 19,79,283 20,38,661 20,99,821 21,62,816 22,27,700 22,94,531 2,17,86,444
1 Bed/1 Bath 26,31,922 28,45,725 29,31,096 30,19,029 31,09,600 32,02,888 32,98,975 33,97,944 34,99,882 36,04,879 37,13,025 3,52,54,965
2 Bed/1 Bath 27,957 30,228 31,135 32,069 33,031 34,022 35,043 36,094 37,177 38,292 39,441 3,74,489
2 Bed/1 Bath FL 2,19,545 2,37,380 2,44,501 2,51,836 2,59,391 2,67,173 2,75,188 2,83,444 2,91,947 3,00,706 3,09,727 29,40,839
2 Bed/2 Bath 9,68,733 10,47,428 10,78,850 11,11,216 11,44,552 11,78,889 12,14,256 12,50,683 12,88,204 13,26,850 13,66,655 1,29,76,316
3 Bed/2 Bath 14,15,943 15,30,967 15,76,896 16,24,203 16,72,929 17,23,117 17,74,810 18,28,054 18,82,896 19,39,383 19,97,564 1,89,66,762
3 Bed/2 Bath TH 2,18,929 2,36,713 2,43,814 2,51,129 2,58,663 2,66,423 2,74,415 2,82,648 2,91,127 2,99,861 3,08,857 29,32,579
3 Bed/2.5 Bath TH 6,29,342 6,80,467 7,00,881 7,21,907 7,43,564 7,65,871 7,88,847 8,12,513 8,36,888 8,61,995 8,87,855 84,30,131
4 Bed/2 Bath 17,58,829 19,01,706 19,58,757 20,17,520 20,78,046 21,40,387 22,04,599 22,70,737 23,38,859 24,09,024 24,81,295 2,35,59,759
4(5) Bed 3 Bath DT 1,39,785 1,51,141 1,55,675 1,60,345 1,65,156 1,70,110 1,75,214 1,80,470 1,85,884 1,91,461 1,97,204 18,72,445
4 Bed/3 Bath TH 1,18,406 1,28,025 1,31,866 1,35,822 1,39,896 1,44,093 1,48,416 1,52,869 1,57,455 1,62,178 1,67,044 15,86,071
4 Bed/4 Bath 27,92,212 30,19,036 31,09,607 32,02,896 32,98,983 33,97,952 34,99,891 36,04,887 37,13,034 38,24,425 39,39,158 3,74,02,081
4(5) Bed/4 Bath D 11,51,173 12,44,688 12,82,029 13,20,490 13,60,105 14,00,908 14,42,935 14,86,223 15,30,810 15,76,734 16,24,036 1,54,20,132
Total Multifamily Revenue 1,36,99,221 1,48,12,071 1,52,56,433 1,57,14,126 1,61,85,550 1,66,71,116 1,71,71,250 1,76,86,387 1,82,16,979 1,87,63,488 1,93,26,393 18,35,03,012

Other Revenue
Other Income 2,99,950 3,08,949 3,18,217 3,27,763 3,37,596 3,47,724 3,58,156 3,68,901 3,79,968 3,91,367 4,03,108 38,41,698
Parking Income 12,42,650 12,79,930 13,18,327 13,57,877 13,98,614 14,40,572 14,83,789 15,28,303 15,74,152 16,21,376 16,70,018 1,59,15,607
Total Other Revenue 15,42,600 15,88,878 16,36,544 16,85,641 17,36,210 17,88,296 18,41,945 18,97,203 19,54,120 20,12,743 20,73,125 1,97,57,306

Potential Gross Revenue 1,61,44,562 1,75,48,297 1,81,29,068 1,86,50,359 1,90,25,340 1,96,82,189 2,02,21,527 2,08,86,220 2,14,86,666 2,21,18,955 2,27,91,377 21,66,84,561

Vacancy & Credit Loss

Credit Loss -73,360 -82,087 -86,179 -88,087 -85,194 -90,332 -91,508 -95,995 -98,091 -1,00,664 -1,03,950 -9,95,446
Total Vacancy & Credit Loss -73,360 -82,087 -86,179 -88,087 -85,194 -90,332 -91,508 -95,995 -98,091 -1,00,664 -1,03,950 -9,95,446

Effective Gross Revenue 1,60,71,202 1,74,66,211 1,80,42,889 1,85,62,272 1,89,40,146 1,95,91,857 2,01,30,019 2,07,90,225 2,13,88,575 2,20,18,291 2,26,87,428 21,56,89,115

Operating Expenses
Real Estate Taxes 2,91,260 2,93,452 2,94,070 11,98,462 12,19,795 12,41,599 12,63,884 12,86,660 13,09,938 13,33,730 13,58,048 1,10,90,900
Taxes 2,71,260 2,72,852 2,72,852 11,76,607 11,97,285 12,18,414 12,40,003 12,62,063 12,84,603 13,07,635 13,31,170 1,08,34,744
PP 20,000 20,600 21,218 21,855 22,510 23,185 23,881 24,597 25,335 26,095 26,878 2,56,156
Insurance 2,57,100 2,64,813 2,72,757 2,80,940 2,89,368 2,98,049 3,06,991 3,16,201 3,25,687 3,35,457 3,45,521 32,92,884
Turnover 1,84,255 1,89,783 1,95,476 2,01,340 2,07,381 2,13,602 2,20,010 2,26,610 2,33,409 2,40,411 2,47,623 23,59,900
Adminstrative 1,24,265 1,27,993 1,31,833 1,35,788 1,39,861 1,44,057 1,48,379 1,52,830 1,57,415 1,62,138 1,67,002 15,91,561
 Marketing 1,28,550 1,32,407 1,36,379 1,40,470 1,44,684 1,49,025 1,53,495 1,58,100 1,62,843 1,67,729 1,72,760 16,46,442
Payroll 7,71,300 7,94,439 8,18,272 8,42,820 8,68,105 8,94,148 9,20,973 9,48,602 9,77,060 10,06,372 10,36,563 98,78,653
Repairs & Maintenance 1,11,410 1,14,752 1,18,195 1,21,741 1,25,393 1,29,155 1,33,029 1,37,020 1,41,131 1,45,365 1,49,726 14,26,917
Contract Services 5,57,050 5,73,762 5,90,974 6,08,704 6,26,965 6,45,774 6,65,147 6,85,101 7,05,654 7,26,824 7,48,629 71,34,583
Utilities 5,99,900 6,17,897 6,36,434 6,55,527 6,75,193 6,95,449 7,16,312 7,37,801 7,59,935 7,82,733 8,06,215 76,83,397
Cable & Internet 85,700 88,271 90,919 93,647 96,456 99,350 1,02,330 1,05,400 1,08,562 1,11,819 1,15,174 10,97,628
Management Fee 4,82,136 5,23,986 5,41,287 5,56,868 5,68,204 5,87,756 6,03,901 6,23,707 6,41,657 6,60,549 6,80,623 64,70,673
Replacement Reserve 1,28,550 1,32,407 1,36,379 1,40,470 1,44,684 1,49,025 1,53,495 1,58,100 1,62,843 1,67,729 1,72,760 16,46,442
Total Operating Expenses 37,21,476 38,53,961 39,62,975 49,76,776 51,06,090 52,46,988 53,87,946 55,36,134 56,86,135 58,40,855 60,00,644 5,53,19,980

Net Operating Income 1,23,49,726 1,36,12,250 1,40,79,915 1,35,85,496 1,38,34,057 1,43,44,869 1,47,42,072 1,52,54,091 1,57,02,440 1,61,77,436 1,66,86,783 16,03,69,135

Leasing Costs
Tenant Improvements 0 4,42,488 0 0 3,06,420 1,34,776 1,63,447 0 0 0 0 10,47,130
Leasing Commissions 0 1,58,145 0 0 1,61,040 70,088 79,962 0 0 0 0 4,69,235
Total Leasing Costs 0 6,00,633 0 0 4,67,459 2,04,864 2,43,408 0 0 0 0 15,16,365

Total Leasing & Capital Costs 0 6,00,633 0 0 4,67,459 2,04,864 2,43,408 0 0 0 0 15,16,365

Cash Flow Before Debt Service 1,23,49,726 1,30,11,617 1,40,79,915 1,35,85,496 1,33,66,597 1,41,40,005 1,44,98,664 1,52,54,091 1,57,02,440 1,61,77,436 1,66,86,783 15,88,52,770

Cash Flow Available for Distribution 1,23,49,726 1,30,11,617 1,40,79,915 1,35,85,496 1,33,66,597 1,41,40,005 1,44,98,664 1,52,54,091 1,57,02,440 1,61,77,436 1,66,86,783 15,88,52,770
Valuation & Return Summary Report
Union Tempe (Amounts in USD)
12/23/2024 12:45:15 PM

Valuation Assumptions Return Summary

PV Calculation Date January, 2025 Total Return (Unleveraged) 41,61,07,348
Unleveraged Cash Flow Rate 7.50% Total Return to Invest (Unleveraged) 0.00
Unleveraged Resale Rate 7.50% PV-Cash Flow (Unleveraged) 9,60,58,365
Leveraged Cash Flow Rate 7.50% PV-Net Sales Price 13,29,14,685
Leveraged Resale Rate 7.50% Total PV (Unleveraged) 22,89,73,050
Discount Method Annual Initial Investment 0
Hold Period 10 Years NPV (Unleveraged) 22,89,73,050
Residual Sale Date December, 2034 % of PV-Income 41.95%
Period to Cap 12 Months After Sale % of PV-Net Sales Price 58.05%
Exit Cap Rate 6.00% IRR (Unleveraged) -
Gross-up NOI No IRR (Leveraged) -
Selling Costs 1.50% PV-Cash Flow (Unleveraged) / % Total 274.78 41.95%
PV-Net Sales Price / % Total 380.21 58.05%
Sales Proceeds Calculation Total PV (Unleveraged) $/SF 654.98 100.00%
Net Operating Income 1,66,86,783
Occupancy Gross-up Adjustment 0 Distributions of Net Proceeds
NOI To Capitalize 1,66,86,783 Net Sale Price 27,39,41,361
Divided by Cap Rate 6.00% Less: Loan Payoff 0
Gross Sale Price 27,81,13,057 Less: Equity (Investment Balance) 0
Adjusted Gross Sale Price 27,81,13,057 Ending Proceeds 27,39,41,361
Selling Costs -41,71,696
Net Sales Price 27,39,41,361
Less: Loan Balance 0
Proceeds from Sale 27,39,41,361
Pv of Net Sales Price 13,29,14,685

Investment & Cash Flow Summary

Unleveraged Unleveraged PV of Unleveraged Cash to Leveraged Leveraged Cash to
Year-Month Investment Cash Flow Cash Flow @ 7.50% Purchase Price Investment Cash Flow Initial Equity
2025-January (Pd. 0) 0 0
2025-December 0 1,23,49,726 1,14,88,117 N/A 0 1,23,49,726 N/A
2026-December 0 1,30,11,617 1,12,59,376 N/A 0 1,30,11,617 N/A
2027-December 0 1,40,79,915 1,13,33,776 N/A 0 1,40,79,915 N/A
2028-December 0 1,35,85,496 1,01,72,827 N/A 0 1,35,85,496 N/A
2029-December 0 1,33,66,597 93,10,619 N/A 0 1,33,66,597 N/A
2030-December 0 1,41,40,005 91,62,179 N/A 0 1,41,40,005 N/A
2031-December 0 1,44,98,664 87,39,141 N/A 0 1,44,98,664 N/A
2032-December 0 1,52,54,091 85,53,003 N/A 0 1,52,54,091 N/A
2033-December 0 1,57,02,440 81,90,133 N/A 0 1,57,02,440 N/A
2034-December 0 1,61,77,436 78,49,194 N/A 0 1,61,77,436 N/A
Totals 0 14,21,65,987 9,60,58,365 0 14,21,65,987
* Results displayed are based on Forecast data only
Present Value Report
Union Tempe (Amounts in USD)
12/23/2024 12:45:16 PM
Valuation (PV/IRR) Date: Jan, 2025
Discount Method: Annual

P.V. of P.V. of P.V. of P.V. of P.V. of NOI to

Analysis Period Cash Flow Cash Flow Cash Flow Cash Flow Cash Flow Cash Flow Book
Period Ending Before Debt Service @ 7.00% @ 7.25% @ 7.50% @ 7.75% @ 8.00% Value
Year 1 Dec-2025 1,23,49,726 1,15,41,800 1,15,14,896 1,14,88,117 1,14,61,463 1,14,34,932 N/A
Year 2 Dec-2026 1,30,11,617 1,13,64,850 1,13,11,929 1,12,59,376 1,12,07,189 1,11,55,364 2266.32%
Year 3 Dec-2027 1,40,79,915 1,14,93,404 1,14,13,218 1,13,33,776 1,12,55,070 1,11,77,090 2344.18%
Year 4 Dec-2028 1,35,85,496 1,03,64,310 1,02,68,010 1,01,72,827 1,00,78,743 99,85,745 2261.86%
Year 5 Dec-2029 1,33,66,597 95,30,199 94,19,641 93,10,619 92,03,107 90,97,082 1295.21%
Year 6 Dec-2030 1,41,40,005 94,22,083 92,91,071 91,62,179 90,35,369 89,10,602 1126.89%
Year 7 Dec-2031 1,44,98,664 90,29,039 88,82,738 87,39,141 85,98,190 84,59,831 972.20%
Year 8 Dec-2032 1,52,54,091 88,78,020 87,13,807 85,53,003 83,95,530 82,41,311 1005.96%
Year 9 Dec-2033 1,57,02,440 85,41,087 83,63,565 81,90,133 80,20,688 78,55,129 1035.53%
Year 10 Dec-2034 1,61,77,436 82,23,788 80,34,090 78,49,194 76,68,968 74,93,283 1066.86%
Totals 14,21,65,987 9,83,88,580 9,72,12,965 9,60,58,365 9,49,24,316 9,38,10,369
Property Resale @ 6.00% Cap Rate 27,39,41,361 13,92,57,897 13,60,45,631 13,29,14,685 12,98,62,817 12,68,87,855
Total Unleveraged Present Value 23,76,46,477 23,32,58,596 22,89,73,050 22,47,87,133 22,06,98,223

Percentage Value Distribution

Income 41.40% 41.68% 41.95% 42.23% 42.51%
Net Sale Price 58.60% 58.32% 58.05% 57.77% 57.49%
100.00% 100.00% 100.00% 100.00% 100.00%
* Results displayed are based on Forecast data only
Unit Audit Report
Union Tempe (Amounts in USD, Measures in SF)
Jan, 2025 through Dec, 2035
12/23/2024 12:45:16 PM
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11
For the Years Ending Dec-2025 Dec-2026 Dec-2027 Dec-2028 Dec-2029 Dec-2030 Dec-2031 Dec-2032 Dec-2033 Dec-2034 Dec-2035 Total

Potential Multifamily Mkt. Rent

Studio 18,89,386 18,51,123 19,06,657 19,63,857 20,22,772 20,83,455 21,45,959 22,10,338 22,76,648 23,44,947 24,15,296 2,31,10,438
1 Bed/1 Bath 30,57,416 29,95,500 30,85,365 31,77,926 32,73,263 33,71,461 34,72,605 35,76,783 36,84,087 37,94,609 39,08,448 3,73,97,462
2 Bed/1 Bath 32,477 31,819 32,774 33,757 34,770 35,813 36,887 37,994 39,133 40,307 41,517 3,97,247
2 Bed/1 Bath FL 2,55,038 2,49,874 2,57,370 2,65,091 2,73,044 2,81,235 2,89,672 2,98,362 3,07,313 3,16,532 3,26,028 31,19,559
2 Bed/2 Bath 11,25,345 11,02,555 11,35,632 11,69,701 12,04,792 12,40,936 12,78,164 13,16,509 13,56,004 13,96,684 14,38,585 1,37,64,906
3 Bed/2 Bath 16,44,854 16,11,544 16,59,890 17,09,687 17,60,978 18,13,807 18,68,221 19,24,268 19,81,996 20,41,456 21,02,699 2,01,19,401
3 Bed/2 Bath TH 2,54,322 2,49,172 2,56,647 2,64,346 2,72,277 2,80,445 2,88,858 2,97,524 3,06,450 3,15,643 3,25,113 31,10,796
3 Bed/2.5 Bath TH 7,31,086 7,16,281 7,37,769 7,59,902 7,82,699 8,06,180 8,30,366 8,55,277 8,80,935 9,07,363 9,34,584 89,42,443
4 Bed/2 Bath 20,43,173 20,01,796 20,61,850 21,23,705 21,87,417 22,53,039 23,20,630 23,90,249 24,61,957 25,35,815 26,11,890 2,49,91,520
4(5) Bed 3 Bath DT 1,62,384 1,59,096 1,63,868 1,68,784 1,73,848 1,79,063 1,84,435 1,89,968 1,95,667 2,01,537 2,07,584 19,86,236
4 Bed/3 Bath TH 1,37,549 1,34,763 1,38,806 1,42,970 1,47,259 1,51,677 1,56,228 1,60,914 1,65,742 1,70,714 1,75,835 16,82,459
4 Bed/4 Bath 32,43,620 31,77,933 32,73,271 33,71,469 34,72,613 35,76,792 36,84,095 37,94,618 39,08,457 40,25,710 41,46,482 3,96,75,061
4(5) Bed/4 Bath D 13,37,280 13,10,198 13,49,504 13,89,989 14,31,689 14,74,640 15,18,879 15,64,445 16,11,379 16,59,720 17,09,512 1,63,57,236
Total Potential Multifamily Mkt. Rent 1,59,13,93 1,55,91,65 1,60,59,40 1,65,41,18 1,70,37,42 1,75,48,54 1,80,75,00 1,86,17,25 1,91,75,76 1,97,51,04 2,03,43,57 19,46,54,764

Potential Rent After Loss to Lease

Studio 18,89,386 18,51,123 19,06,657 19,63,857 20,22,772 20,83,455 21,45,959 22,10,338 22,76,648 23,44,947 24,15,296 2,31,10,438
1 Bed/1 Bath 30,57,416 29,95,500 30,85,365 31,77,926 32,73,263 33,71,461 34,72,605 35,76,783 36,84,087 37,94,609 39,08,448 3,73,97,462
2 Bed/1 Bath 32,477 31,819 32,774 33,757 34,770 35,813 36,887 37,994 39,133 40,307 41,517 3,97,247
2 Bed/1 Bath FL 2,55,038 2,49,874 2,57,370 2,65,091 2,73,044 2,81,235 2,89,672 2,98,362 3,07,313 3,16,532 3,26,028 31,19,559
2 Bed/2 Bath 11,25,345 11,02,555 11,35,632 11,69,701 12,04,792 12,40,936 12,78,164 13,16,509 13,56,004 13,96,684 14,38,585 1,37,64,906
3 Bed/2 Bath 16,44,854 16,11,544 16,59,890 17,09,687 17,60,978 18,13,807 18,68,221 19,24,268 19,81,996 20,41,456 21,02,699 2,01,19,401
3 Bed/2 Bath TH 2,54,322 2,49,172 2,56,647 2,64,346 2,72,277 2,80,445 2,88,858 2,97,524 3,06,450 3,15,643 3,25,113 31,10,796
3 Bed/2.5 Bath TH 7,31,086 7,16,281 7,37,769 7,59,902 7,82,699 8,06,180 8,30,366 8,55,277 8,80,935 9,07,363 9,34,584 89,42,443
4 Bed/2 Bath 20,43,173 20,01,796 20,61,850 21,23,705 21,87,417 22,53,039 23,20,630 23,90,249 24,61,957 25,35,815 26,11,890 2,49,91,520
4(5) Bed 3 Bath DT 1,62,384 1,59,096 1,63,868 1,68,784 1,73,848 1,79,063 1,84,435 1,89,968 1,95,667 2,01,537 2,07,584 19,86,236
4 Bed/3 Bath TH 1,37,549 1,34,763 1,38,806 1,42,970 1,47,259 1,51,677 1,56,228 1,60,914 1,65,742 1,70,714 1,75,835 16,82,459
4 Bed/4 Bath 32,43,620 31,77,933 32,73,271 33,71,469 34,72,613 35,76,792 36,84,095 37,94,618 39,08,457 40,25,710 41,46,482 3,96,75,061
4(5) Bed/4 Bath D 13,37,280 13,10,198 13,49,504 13,89,989 14,31,689 14,74,640 15,18,879 15,64,445 16,11,379 16,59,720 17,09,512 1,63,57,236
Total Potential Rent After Loss to Lease 1,59,13,93 1,55,91,65 1,60,59,40 1,65,41,18 1,70,37,42 1,75,48,54 1,80,75,00 1,86,17,25 1,91,75,76 1,97,51,04 2,03,43,57 19,46,54,764

Vacancy Allowance
Studio -2,62,942 -92,556 -95,333 -98,193 -1,01,139 -1,04,173 -1,07,298 -1,10,517 -1,13,832 -1,17,247 -1,20,765 -13,23,995
1 Bed/1 Bath -4,25,494 -1,49,775 -1,54,268 -1,58,896 -1,63,663 -1,68,573 -1,73,630 -1,78,839 -1,84,204 -1,89,730 -1,95,422 -21,42,497
2 Bed/1 Bath -4,520 -1,591 -1,639 -1,688 -1,738 -1,791 -1,844 -1,900 -1,957 -2,015 -2,076 -22,758
2 Bed/1 Bath FL -35,493 -12,494 -12,868 -13,255 -13,652 -14,062 -14,484 -14,918 -15,366 -15,827 -16,301 -1,78,719
2 Bed/2 Bath -1,56,612 -55,128 -56,782 -58,485 -60,240 -62,047 -63,908 -65,825 -67,800 -69,834 -71,929 -7,88,590
3 Bed/2 Bath -2,28,911 -80,577 -82,995 -85,484 -88,049 -90,690 -93,411 -96,213 -99,100 -1,02,073 -1,05,135 -11,52,638
3 Bed/2 Bath TH -35,393 -12,459 -12,832 -13,217 -13,614 -14,022 -14,443 -14,876 -15,322 -15,782 -16,256 -1,78,217
3 Bed/2.5 Bath TH -1,01,744 -35,814 -36,888 -37,995 -39,135 -40,309 -41,518 -42,764 -44,047 -45,368 -46,729 -5,12,312
4 Bed/2 Bath -2,84,344 -1,00,090 -1,03,092 -1,06,185 -1,09,371 -1,12,652 -1,16,032 -1,19,512 -1,23,098 -1,26,791 -1,30,594 -14,31,762
4(5) Bed 3 Bath DT -22,599 -7,955 -8,193 -8,439 -8,692 -8,953 -9,222 -9,498 -9,783 -10,077 -10,379 -1,13,791
4 Bed/3 Bath TH -19,142 -6,738 -6,940 -7,149 -7,363 -7,584 -7,811 -8,046 -8,287 -8,536 -8,792 -96,388
4 Bed/4 Bath -4,51,408 -1,58,897 -1,63,664 -1,68,573 -1,73,631 -1,78,840 -1,84,205 -1,89,731 -1,95,423 -2,01,286 -2,07,324 -22,72,980
4(5) Bed/4 Bath D -1,86,107 -65,510 -67,475 -69,499 -71,584 -73,732 -75,944 -78,222 -80,569 -82,986 -85,476 -9,37,104
Total Vacancy Allowance -22,14,710 -7,79,583 -8,02,970 -8,27,059 -8,51,871 -8,77,427 -9,03,750 -9,30,862 -9,58,788 -9,87,552 -10,17,179 -1,11,51,752

Scheduled Multifamily Rent

Studio 16,26,444 17,58,567 18,11,324 18,65,664 19,21,634 19,79,283 20,38,661 20,99,821 21,62,816 22,27,700 22,94,531 2,17,86,444
 1 Bed/1 Bath 26,31,922 28,45,725 29,31,096 30,19,029 31,09,600 32,02,888 32,98,975 33,97,944 34,99,882 36,04,879 37,13,025 3,52,54,965
2 Bed/1 Bath 27,957 30,228 31,135 32,069 33,031 34,022 35,043 36,094 37,177 38,292 39,441 3,74,489
2 Bed/1 Bath FL 2,19,545 2,37,380 2,44,501 2,51,836 2,59,391 2,67,173 2,75,188 2,83,444 2,91,947 3,00,706 3,09,727 29,40,839
2 Bed/2 Bath 9,68,733 10,47,428 10,78,850 11,11,216 11,44,552 11,78,889 12,14,256 12,50,683 12,88,204 13,26,850 13,66,655 1,29,76,316
3 Bed/2 Bath 14,15,943 15,30,967 15,76,896 16,24,203 16,72,929 17,23,117 17,74,810 18,28,054 18,82,896 19,39,383 19,97,564 1,89,66,762
3 Bed/2 Bath TH 2,18,929 2,36,713 2,43,814 2,51,129 2,58,663 2,66,423 2,74,415 2,82,648 2,91,127 2,99,861 3,08,857 29,32,579
3 Bed/2.5 Bath TH 6,29,342 6,80,467 7,00,881 7,21,907 7,43,564 7,65,871 7,88,847 8,12,513 8,36,888 8,61,995 8,87,855 84,30,131
4 Bed/2 Bath 17,58,829 19,01,706 19,58,757 20,17,520 20,78,046 21,40,387 22,04,599 22,70,737 23,38,859 24,09,024 24,81,295 2,35,59,759
4(5) Bed 3 Bath DT 1,39,785 1,51,141 1,55,675 1,60,345 1,65,156 1,70,110 1,75,214 1,80,470 1,85,884 1,91,461 1,97,204 18,72,445
4 Bed/3 Bath TH 1,18,406 1,28,025 1,31,866 1,35,822 1,39,896 1,44,093 1,48,416 1,52,869 1,57,455 1,62,178 1,67,044 15,86,071
4 Bed/4 Bath 27,92,212 30,19,036 31,09,607 32,02,896 32,98,983 33,97,952 34,99,891 36,04,887 37,13,034 38,24,425 39,39,158 3,74,02,081
4(5) Bed/4 Bath D 11,51,173 12,44,688 12,82,029 13,20,490 13,60,105 14,00,908 14,42,935 14,86,223 15,30,810 15,76,734 16,24,036 1,54,20,132
Total Scheduled Multifamily Rent 1,36,99,22 1,48,12,07 1,52,56,43 1,57,14,12 1,61,85,55 1,66,71,11 1,71,71,25 1,76,86,38 1,82,16,97 1,87,63,48 1,93,26,39 18,35,03,012

Total Multifamily Revenue

Studio 16,26,444 17,58,567 18,11,324 18,65,664 19,21,634 19,79,283 20,38,661 20,99,821 21,62,816 22,27,700 22,94,531 2,17,86,444
1 Bed/1 Bath 26,31,922 28,45,725 29,31,096 30,19,029 31,09,600 32,02,888 32,98,975 33,97,944 34,99,882 36,04,879 37,13,025 3,52,54,965
2 Bed/1 Bath 27,957 30,228 31,135 32,069 33,031 34,022 35,043 36,094 37,177 38,292 39,441 3,74,489
2 Bed/1 Bath FL 2,19,545 2,37,380 2,44,501 2,51,836 2,59,391 2,67,173 2,75,188 2,83,444 2,91,947 3,00,706 3,09,727 29,40,839
2 Bed/2 Bath 9,68,733 10,47,428 10,78,850 11,11,216 11,44,552 11,78,889 12,14,256 12,50,683 12,88,204 13,26,850 13,66,655 1,29,76,316
3 Bed/2 Bath 14,15,943 15,30,967 15,76,896 16,24,203 16,72,929 17,23,117 17,74,810 18,28,054 18,82,896 19,39,383 19,97,564 1,89,66,762
3 Bed/2 Bath TH 2,18,929 2,36,713 2,43,814 2,51,129 2,58,663 2,66,423 2,74,415 2,82,648 2,91,127 2,99,861 3,08,857 29,32,579
3 Bed/2.5 Bath TH 6,29,342 6,80,467 7,00,881 7,21,907 7,43,564 7,65,871 7,88,847 8,12,513 8,36,888 8,61,995 8,87,855 84,30,131
4 Bed/2 Bath 17,58,829 19,01,706 19,58,757 20,17,520 20,78,046 21,40,387 22,04,599 22,70,737 23,38,859 24,09,024 24,81,295 2,35,59,759
4(5) Bed 3 Bath DT 1,39,785 1,51,141 1,55,675 1,60,345 1,65,156 1,70,110 1,75,214 1,80,470 1,85,884 1,91,461 1,97,204 18,72,445
4 Bed/3 Bath TH 1,18,406 1,28,025 1,31,866 1,35,822 1,39,896 1,44,093 1,48,416 1,52,869 1,57,455 1,62,178 1,67,044 15,86,071
4 Bed/4 Bath 27,92,212 30,19,036 31,09,607 32,02,896 32,98,983 33,97,952 34,99,891 36,04,887 37,13,034 38,24,425 39,39,158 3,74,02,081
4(5) Bed/4 Bath D 11,51,173 12,44,688 12,82,029 13,20,490 13,60,105 14,00,908 14,42,935 14,86,223 15,30,810 15,76,734 16,24,036 1,54,20,132
Total Total Multifamily Revenue 1,36,99,22 1,48,12,07 1,52,56,43 1,57,14,12 1,61,85,55 1,66,71,11 1,71,71,25 1,76,86,38 1,82,16,97 1,87,63,48 1,93,26,39 18,35,03,012

* Results displayed are based on Forecast data only

Unit Assumptions Report
Union Tempe (Amounts in USD, Measures in SF)
Jan, 2025 through Dec, 2035
12/23/2024 12:45:17 PM
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11
For the Years Ending Dec-2025 Dec-2026 Dec-2027 Dec-2028 Dec-2029 Dec-2030 Dec-2031 Dec-2032 Dec-2033 Dec-2034 Dec-2035 Total
General Information

Total Units
Studio 92 92 92 92 92 92 92 92 92 92 92 92
1 Bed/1 Bath 129 129 129 129 129 129 129 129 129 129 129 129
2 Bed/1 Bath 2 2 2 2 2 2 2 2 2 2 2 2
2 Bed/1 Bath FL 16 16 16 16 16 16 16 16 16 16 16 16
2 Bed/2 Bath 58 58 58 58 58 58 58 58 58 58 58 58
3 Bed/2 Bath 96 96 96 96 96 96 96 96 96 96 96 96
3 Bed/2 Bath TH 15 15 15 15 15 15 15 15 15 15 15 15
3 Bed/2.5 Bath TH 39 39 39 39 39 39 39 39 39 39 39 39
4 Bed/2 Bath 124 124 124 124 124 124 124 124 124 124 124 124
4(5) Bed 3 Bath DT 10 10 10 10 10 10 10 10 10 10 10 10
4 Bed/3 Bath TH 8 8 8 8 8 8 8 8 8 8 8 8
4 Bed/4 Bath 188 188 188 188 188 188 188 188 188 188 188 188
4(5) Bed/4 Bath D 80 80 80 80 80 80 80 80 80 80 80 80

Vacancy Allowance (%)

Studio 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
1 Bed/1 Bath 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
2 Bed/1 Bath 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
2 Bed/1 Bath FL 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
2 Bed/2 Bath 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
3 Bed/2 Bath 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
3 Bed/2 Bath TH 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
3 Bed/2.5 Bath TH 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
4 Bed/2 Bath 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
4(5) Bed 3 Bath DT 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
4 Bed/3 Bath TH 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
4 Bed/4 Bath 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%
4(5) Bed/4 Bath D 13.92% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.00% 5.81%

Leasing Activity

Units Expiring
Studio 92 92 92 92 92 92 92 92 92 92 92 1,012
1 Bed/1 Bath 129 129 129 129 129 129 129 129 129 129 129 1,419
2 Bed/1 Bath 2 2 2 2 2 2 2 2 2 2 2 22
2 Bed/1 Bath FL 16 16 16 16 16 16 16 16 16 16 16 176
2 Bed/2 Bath 58 58 58 58 58 58 58 58 58 58 58 638
3 Bed/2 Bath 96 96 96 96 96 96 96 96 96 96 96 1,056
3 Bed/2 Bath TH 15 15 15 15 15 15 15 15 15 15 15 165
3 Bed/2.5 Bath TH 39 39 39 39 39 39 39 39 39 39 39 429
4 Bed/2 Bath 124 124 124 124 124 124 124 124 124 124 124 1,364
4(5) Bed 3 Bath DT 10 10 10 10 10 10 10 10 10 10 10 110
4 Bed/3 Bath TH 8 8 8 8 8 8 8 8 8 8 8 88
4 Bed/4 Bath 188 188 188 188 188 188 188 188 188 188 188 2,068
4(5) Bed/4 Bath D 80 80 80 80 80 80 80 80 80 80 80 880

Units at Market (End of Period)

Studio 92 92 92 92 92 92 92 92 92 92 92 92
 1 Bed/1 Bath 129 129 129 129 129 129 129 129 129 129 129 129
2 Bed/1 Bath 2 2 2 2 2 2 2 2 2 2 2 2
2 Bed/1 Bath FL 16 16 16 16 16 16 16 16 16 16 16 16
2 Bed/2 Bath 58 58 58 58 58 58 58 58 58 58 58 58
3 Bed/2 Bath 96 96 96 96 96 96 96 96 96 96 96 96
3 Bed/2 Bath TH 15 15 15 15 15 15 15 15 15 15 15 15
3 Bed/2.5 Bath TH 39 39 39 39 39 39 39 39 39 39 39 39
4 Bed/2 Bath 124 124 124 124 124 124 124 124 124 124 124 124
4(5) Bed 3 Bath DT 10 10 10 10 10 10 10 10 10 10 10 10
4 Bed/3 Bath TH 8 8 8 8 8 8 8 8 8 8 8 8
4 Bed/4 Bath 188 188 188 188 188 188 188 188 188 188 188 188
4(5) Bed/4 Bath D 80 80 80 80 80 80 80 80 80 80 80 80

Initial Rent Rate

Studio 1,720 1,720 1,720 1,720 1,720 1,720 1,720 1,720 1,720 1,720 1,720 1,720
1 Bed/1 Bath 1,985 1,985 1,985 1,985 1,985 1,985 1,985 1,985 1,985 1,985 1,985 1,985
2 Bed/1 Bath 1,360 1,360 1,360 1,360 1,360 1,360 1,360 1,360 1,360 1,360 1,360 1,360
2 Bed/1 Bath FL 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335 1,335
2 Bed/2 Bath 1,625 1,625 1,625 1,625 1,625 1,625 1,625 1,625 1,625 1,625 1,625 1,625
3 Bed/2 Bath 1,435 1,435 1,435 1,435 1,435 1,435 1,435 1,435 1,435 1,435 1,435 1,435
3 Bed/2 Bath TH 1,420 1,420 1,420 1,420 1,420 1,420 1,420 1,420 1,420 1,420 1,420 1,420
3 Bed/2.5 Bath TH 1,570 1,570 1,570 1,570 1,570 1,570 1,570 1,570 1,570 1,570 1,570 1,570
4 Bed/2 Bath 1,380 1,380 1,380 1,380 1,380 1,380 1,380 1,380 1,380 1,380 1,380 1,380
4(5) Bed 3 Bath DT 1,360 1,360 1,360 1,360 1,360 1,360 1,360 1,360 1,360 1,360 1,360 1,360
4 Bed/3 Bath TH 1,440 1,440 1,440 1,440 1,440 1,440 1,440 1,440 1,440 1,440 1,440 1,440
4 Bed/4 Bath 1,445 1,445 1,445 1,445 1,445 1,445 1,445 1,445 1,445 1,445 1,445 1,445
4(5) Bed/4 Bath D 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400 1,400

Unit Market Rent

Studio 1,711 1,677 1,727 1,779 1,832 1,887 1,944 2,002 2,062 2,124 2,188 1,903
1 Bed/1 Bath 1,975 1,935 1,993 2,053 2,115 2,178 2,243 2,311 2,380 2,451 2,525 2,196
2 Bed/1 Bath 1,353 1,326 1,366 1,407 1,449 1,492 1,537 1,583 1,631 1,679 1,730 1,505
2 Bed/1 Bath FL 1,328 1,301 1,340 1,381 1,422 1,465 1,509 1,554 1,601 1,649 1,698 1,477
2 Bed/2 Bath 1,617 1,584 1,632 1,681 1,731 1,783 1,836 1,892 1,948 2,007 2,067 1,798
3 Bed/2 Bath 1,428 1,399 1,441 1,484 1,529 1,574 1,622 1,670 1,720 1,772 1,825 1,588
3 Bed/2 Bath TH 1,413 1,384 1,426 1,469 1,513 1,558 1,605 1,653 1,702 1,754 1,806 1,571
3 Bed/2.5 Bath TH 1,562 1,531 1,576 1,624 1,672 1,723 1,774 1,828 1,882 1,939 1,997 1,737
4 Bed/2 Bath 1,373 1,345 1,386 1,427 1,470 1,514 1,560 1,606 1,655 1,704 1,755 1,527
4(5) Bed 3 Bath DT 1,353 1,326 1,366 1,407 1,449 1,492 1,537 1,583 1,631 1,679 1,730 1,505
4 Bed/3 Bath TH 1,433 1,404 1,446 1,489 1,534 1,580 1,627 1,676 1,726 1,778 1,832 1,593
4 Bed/4 Bath 1,438 1,409 1,451 1,494 1,539 1,585 1,633 1,682 1,732 1,784 1,838 1,599
4(5) Bed/4 Bath D 1,393 1,365 1,406 1,448 1,491 1,536 1,582 1,630 1,679 1,729 1,781 1,549

* Results displayed are based on Forecast data only