new for sale: quail view luxury living · 2020. 10. 6. · immaculate landscaping spacious bedrooms...
TRANSCRIPT
Brian Eliason Broker Associate (605) 999-4240 [email protected]
For Sale: 15 units, Class A
Multi-Family Property
Quail View Luxury Living 1400 W. 21st Ave.
Mitchell, SD 57301
List Price: $1,975,000
Interior Access Garages Included Secure Building Access Sprinklered Building Stainless Steel Appliances 10-ft ceilings No Steps or Stairs Intercom System
Brian Eliason Broker Associate (605) 999-4240 [email protected]
Offering Highlights 15 2-Bdrm/1-Bath Units Class A Property New Construction Fully-Stabilized 100% Occupancy Below-Market Rent
Community/Gathering Room Exercise Room Immaculate Landscaping Spacious Bedrooms Washer & Dryer in Each Unit Well-appointed bathrooms High-End Wood Doors and Trim
Amenities
For Sale: 15 units, Class A
Multi-Family Property
Quail View Luxury Living 1400 W. 21st Ave.
Mitchell, SD 57301
Brian Eliason Broker Associate (605) 999-4240 [email protected]
Common Areas: Quail View Luxury Living
1400 W. 21st Ave.
Mitchell, SD 57301
Brian Eliason Broker Associate (605) 999-4240 [email protected]
Unit Interiors: Quail View Luxury Living
1400 W. 21st Ave.
Mitchell, SD 57301
Brian Eliason Broker Associate (605) 999-4240 [email protected]
Peaceful, yet convenient Location In Mitchell, SD
Simple, Convenient Floor Plan
Brian Eliason Broker Associate (605) 999-4240 [email protected]
Financial Highlights
* Disclaimer: Financial Highlights have been prepared and provided by Lis ng Agent as a good‐faith es mate of the poten al financial opera ons. Buyers are hereby advised to prepare their own financial projec ons and conduct their own due diligence and SHOULD NOT rely on this Pro Forma for
future financial performance. In addi on, Financial Highlights do not reflect any tax‐related benefits or risks of inves ng in real estate.
Residual Equity
Yr 5 NOI $ 159,259 Terminal Cap Rate 7.00% Sale Price $ 2,275,132 Less: Closing Costs (5%) $ 113,757 Less: Debt Payoff $ 1,549,330 Net Sale Proceeds $ 612,046
Investment Parameters
Purchase Price $ 1,975,000 Capitaliza on Rate 7.09% Yr 1 Cash‐on‐Cash 13.91% 5‐Yr IRR 27.20%
IRR Analysis Yr 0 (Purchase) Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Ini al Equity Invested (395,000) Annual Cash Flow 54,961 61,534 66,243 71,094 76,090 Residual Equity 770,893 Net (395,000) 54,961 61,534 66,243 71,094 846,983
Projected 5‐yr IRR 27.20%
Sample Debt Terms LTV 80% Down Payment $ 395,000 Loan Amount $ 1,580,000 Interest Rate 3.50% Amor za on (yrs) 30 Term (yrs) 5
Pro Forma
* Disclaimer: Financial Highlights have been prepared and provided by Lis ng Agent as a good‐faith es mate of the poten al financial opera ons. Buyers are hereby advised to prepare their own financial projec ons and conduct their own due diligence
and SHOULD NOT rely on this Pro Forma for future financial performance. In addi on, Financial Highlights do not reflect any tax‐related benefits or risks of inves ng in real estate.
Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Income 4.00% 3.00% 3.00% 3.00%
15 Apartment Units $ 1,145 206,100 214,344 220,774 227,398 234,219 Vacancy (projected) 5% 10,305 10,305 10,305 10,305 10,305 Net Revenue 195,795 204,039 210,469 217,093 223,914 Expenses 3.00% 3.00% 3.00% 3.00% Prop Mgmt (projected) 6.00% 11,748 12,100 12,463 12,837 13,222
Maintenance (actual) 5,237 5,394 5,555 5,722 5,894 Lawn/Snow (actual) 4,644 4,783 4,926 5,074 5,226 RE Taxes (projected) 1.00% 19,750 20,343 20,953 21,581 22,229 Insurance (actual) 5,569 5,736 5,908 6,085 6,268 Electric (actual) 2,800 2,884 2,970 3,060 3,151 Water (actual) 3,535 3,641 3,751 3,863 3,979 Garbage (actual) 1,383 1,425 1,468 1,512 1,557 Internet (actual) 1,030 1,061 1,092 1,125 1,159 Total Opera ng Exp's 55,695 57,366 59,087 60,860 62,686
Net Opera ng Income 140,100 146,673 151,382 156,233 161,229
Less: Debt Service 85,139 85,139 85,139 85,139 85,139 Net Cash Flow 54,961 61,534 66,243 71,094 76,090
Cash‐on‐Cash % Return 13.91% 15.58% 16.77% 18.00% 19.26%
Brian Eliason Broker Associate (605) 999-4240 [email protected]
For More Information or a Property Tour of:
Brian Eliason Broker Associate
(605) 999 - 4240 [email protected]
Quail View Luxury Living
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