Lincoln Terrace 100 | Page 18

06

OUR CHART

Unit Mix Unit Count TOTALS TOTALS

1 BED 1 BATH $ 24.00 $1,808.00$43,392.00

2 BED 1 BATH $24.00 $2,339.00$56,136.00

3 BED 2 BATH16 $ 3,148.00 $50,368.00

Total Monthly Rent $ 149,896.00

Potential Gross Rent $ 1,798,752.00

Expenses 32% $ 555,819.00

Vacancy Allowance3%$101,938.00

Net Income $ 1,140,995.00

Timeline

Entitlement Period12months

Construction period18months

Building Size77236Sq Ft.

Land Cost $ 2,271,480

Cost Section

Concrete/Asphalt Demo3$89,574.00

Building Demolition Costs$42,000.00

Building Costs $ 11,585,400.00

SUBTOTAL (HARD COSTS) $ 11,716,974

Soft Cost Additional $ 1,598,314

Loan Fees $237,362

ACQUISITION COST

Land Price$2,271,480

LOT SIZE37858

PRICE PER SF$60

IMPROVEMENTSSQ FT

Leasable Residential 51,072SQ FT

Common Area 11,204

Leasable Retail 8000SQ FT

Office and Amenities 6960SQ FT

REQUIRED PARKING 17500

GROSS BUILDING SIZE 77,236SQ FT

CONSTRUCTION PRICE PER SQ FOOT150

TOTAL CONSTRUCTION COST $11,585,400

NOI 1,418,509

Cap Rate 0.05

Capitalized Value 28,370,176

Residual Land Value16,784,746