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| Summary | |
| Price | $2,950,000 |
| Number of Units | 39 |
| Cost Per Unit | $75,641 |
| Current GRM | 8.25 |
| Current CAP | 7.09% |
| Approximate Age | 1962 |
| Approximate Net RSF | 15,900 |
| Proposed Financing | |
| First Loan Amount | $1,610,000 Assumption, Due in 2020 |
- The subject property is a thirty-nine unit garden style apartment complex located in Santa Rosa, CA. The property consists of eight single story buildings situated on a 59,677 square foot level site in the Southwest Santa Rosa area known as Roseland.
- After making a down payment of $1,340,000 the buyer will apply to assume financing in the approximate amount of $1,610,000 at the 5 year fixed interest rate of 6.03% with monthly principal and interest payments of $10,526. Annual principal reduction combines with starting cash flow to produce an $111,664 annual total return before taxes or 8.33% return on the $1,610,000 down payment. The fixed rate term of the loan ends June 1, 2015, at which time the loan becomes adjustable through June 1, 2020.