| Property Name & Location | |||||
| Geek-to-Go | |||||
| 100 Beach Rd | |||||
| West Palm Beach, FL 33000 | |||||
| USA | |||||
| Broker / Reference | |||||
| Broker: | Joe Broker | ||||
| Reference: | 0 | ||||
| Property Description | |||||
| Price: | $ 1,800,000 | ||||
| SF: | 14,800 | ||||
| No. of Units: | 30 | ||||
| Zoning: | R-15 | ||||
| Water/Sewer: | City | ||||
| Electric: | City | ||||
| Lot Size: | 2 Ac | ||||
| Frontage: | 0 | ||||
| Investment Assumptions | |||||
| Acquisition | |||||
| Date: | 02 / 03 | ||||
| Sources of Funding | |||||
| Cash Investment | 454,800 | ||||
| Financing | 1,690,000 | ||||
| Total: | $ 2,144,800 | ||||
| Uses of Funds | |||||
| Purchase Real Estate | 1,800,000 | ||||
| Purchase Pers. Property | - | ||||
| Closing Costs | 36,000 | ||||
| Points | 33,800 | ||||
| Other Fees | - | ||||
| 1st Year Capital Impr. | 200,000 | ||||
| 1st Year Funded Reserves | 75,000 | ||||
| Total: | $ 2,144,800 | ||||
| Financing | |||||
| Mortgage #1 | Mortgage #2 | Mortgage #3 | Mortgage #4 | Mortgage #5 | |
| Date Placed: | 02 / 03 | 02 / 03 | 12 / 05 | 00 / 00 | 00 / 00 |
| Mortgage Amount: | $ 1,440,000 | $ 250,000 | $ 2,000,000 | $ - | $ - |
| Interest Rate: | 7.5% | 9% | 8% | 0% | 0% |
| Term in Years: | 20 | 5 | 30 | 0 | 0 |
| Points: | 2% | 2% | 2% | 0% | 0% |
| Mortgage Type: | Conventional | Interest Only | Refinance | Conventional | 0 |
| Resale | |||||
| Date of Resale: | 12 / 09 | ||||
| Resale Valuation Method: | Cap Rate | ||||
| Resale Valuation Factor: | 11% | ||||
| Resale Expense (as % of Sale): | 7% | ||||