36–52 Calhoun Terrace
Asking Price
$8,000,000
$1,067 / sq ft
GRM
12.92×
Gross Rent Multiplier
Cap Rate
5.56%
Based on actual rents
Total Rent / Mo
$51,598
Actual (11 units)
Rent Roll
| Unit | Type | Notes | Sq Ft | Lease Term | Actual Rent | Sec. Deposit |
|---|---|---|---|---|---|---|
| 36 | 1BR/1BA | In-unit laundry | 600 | 8/1/23–7/31/27 | $4,767 | $5,678 |
| 38 | 1BR/1BA | Oversized deck, in-unit laundry | 700 | 7/1/25–6/30/27 | $5,177 | $5,095 |
| 38B | 1BR/1BA | — | 500 | 1/1/26–10/31/26 | $3,995 | $4,595 |
| 38A | 1BR/1BA | — | 500 | 6/1/24–5/31/27 | $3,343 | $4,245 |
| 40 | 1BR/1BA | Plus office | 700 | 10/3/25–9/30/26 | $5,500 | $5,500 |
| 42 | 1BR/1BA | Oversized deck + office | 700 | 9/1/21–8/31/26 | $5,191 | $6,034 |
| 44 | 1BR/1BA | Plus office | 700 | 7/1/25–6/30/27 | $5,500 | $4,850 |
| 46 | 2BR/2BA | Oversized deck + office | 950 | 7/15/20–7/31/26 | $5,757 | $6,395 |
| 48 | 2BR/2BA | Plus office | 950 | 3/9/24–3/30/27 | $4,739 | $5,600 |
| 50 | 1BR/1BA | Plus office | 700 | 4/1/23–3/31/27 | $4,379 | $5,250 |
| 52 | 1BR/1BA | — | 500 | 11/1/20–10/31/26 | $3,250 | $4,195 |
| Totals | 7,500 | — | $51,598 /mo $619,176 /yr |
$57,238 | ||
Projected Expenses & NOI
| Line Item | Actual | |
|---|---|---|
| Utilities | $19,100 | |
| Water | $12,393 | |
| Garbage / Recycling | $7,669 | |
| Repairs / Maintenance | $21,236 | |
| Misc. | $1,000 | |
| Insurance | $18,600 | |
| Vacancy | $0.00 | |
| Property Management | $0.00 | |
| Property Tax | 1.18% | $94,400 |
| Total Annual Expenses | $174,398 | |
| Net Operating Income | $444,777.76 | |
- Expenses associated with adjacent property subject to easements are included in expenses shown
- Current owner manages and has achieved zero vacancy even with turnover due to constant high interest in building, often involving turnover within building or from friends of tenants
- Property tax is projected at purchase price, and is not actual