Milan Properties, Inc

Type: Apartment Buildings
Agent Name: Milan P. Rubenstein
Price: USD $ 2,600,000
Featured: Yes

Setup Sheet

Property Description:
Newer exterior paint & landscaping, great unit mix of 5 1+1s and 13 2+2s, ample parking, easy maintenance, many remodeled units with hardwood floors, new appliances, new tiles in kitchen and bathrooms, new countertops, custom interior paint and new fixtures. 11 two bedrooms are townhomes.

Location Description:
Great rental market in the city of Hawthorne. Across the street from a middle school. Near major freeways and LAX. Less than 5 miles from the beach!

No. Stories:

2

Commission Split:

2.5%

Highlights

• NO RENT CONTROL • GREAT RENTAL LOCATION   • NEWLY REMODELED APARTMENTS • MOST TWO BEDROOMS ARE TOWNHOMES   • GREAT UNIT MIX • EASY MANAGEMENT & MAINTENANCE

Financial Summary Actual Year: 2008 Scheduled Gross Income: $268,680 Effective Gross Income: $268,680 Operating Expenses: $93,925 Net Operating Income: $174,752 Pre-Tax Cash Flow: $43,810		Unit Mix Information 1+1 No. Units: 5 Avg. Mo. Rent: $995   2+2 No. Units: 13 Avg. Mo. Rent: $1,325		Debt & Equity Information Debt Type: Proposed Loan Amount: $1,820,000 Interest Rate: 6.00% Amortized Over: 30 Due In: 10 Annual Debt Service: $130,942 Down Payment: $780,000   Loan Description: New 1st Trust Deed, fixed for 5 years and amortized over 30, due in 10 or 15.

Company: Milan Properties, Inc