1310 admiral blvd. kansas city, mo 64106 · 1310 admiral blvd. kansas city, mo 64106 executive...
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Jesse Rolla | (303) 968 - 8088 | [email protected]
1310 Admiral Blvd. Kansas City, MO 64106
Executive Summary:
Beautiful 37 Unit Multi-family building located right near downtown. Recently underwent a major $500k+ renovation inside and out.
New TPO roof and majority of the HVAC systems have been replaced. Units updated with new floors, appliances, fixtures, bathrooms, and fresh paint. Common areas also updated with new flooring and paint. Two secured parking lots and key FOB entry doors for added convenience.
Building very recently occupied to over 90%. Great appreciation potential as the area has been steadily turning over receives a lot of attention from Downtown workforce.
Executive Summary
Financial Overview
Surrounding Area Photos
Portfolio Highlights
Units
Unit Size
Property Tax $8,736
Approximately 1920
37
625 to 750 SqFt
.91
44 off street spaces
Year Built
Acres
Parking
Purpose Revised: Submkt: KC
37 UNITS 2,375,000$ Project: Admiral Apartment Homes 27247 NET RENTABLE SF Down Payment 593,750$ 25% Down assumed
1310 Admiral Blvd 736 AVG SF +Costs of Acquisition 4,000$ Appraisal, Inspection, etc.Kansas City, MO 64109 27,247 Total Sq Footage +Assumption Fee -$ 1%
=Investment Basis 597,750$ 25%
I/O Begin BalanceMonthly Debt
ServicePer Year Rate Amortization
Annual Cum Principle
Existing
PotentialNew 1st 0 1,781,250$ ($9,726) 12 5.15% 30 25,576.85$ Seller Carry 1 $0 12 5.00% 5 -$ Agent Carry 0 $0 $0 12 7.00% 5 -$
1,781,250$ (9,726.09)$ 25,576.85$
ALL FIGURES ARE ANNUAL $ / UNIT $ / SQ FT % GOIOPERATING REVENUES
1. GROSS POTENTIAL RENTAL INCOME 349,427$ 2. Less: Vac. & Cr. Losses 8.0% 27,954$
3. = EFFECTIVE RENTAL INCOME 321,473$ 4. Plus: Other Income 7,865$ Late fee, app fees, vending, deposit forfeit
5. = EFFECTIVE GROSS INCOME $8,901.03 12.09$ 100% 329,338$ plus neighbor parking and trash reimburseOPERATING EXPENSES:
6. Management Fee 712.08 0.97 8.0% 26,347$ 7. Real Estate Taxes 259.95 0.35 2.9% 9,618$ 8. Other Insurance - - 0.0% -$ 9. Property Insurance 229.19 0.31 2.6% 8,480$ 10. Payroll & Related Expenses - - 0.0% -$ 11. Administration - - 0.0%12. Advertising & Marketing - - 0.0% -$ 13. Repairs & Maintenance 788.41 1.07 8.9% 29,171$ 14. Supplies - - 0.0% -$ 15. Other - - 0.0% -$
UTILITIES16. Electric 500.05 0.68 5.6% 18,502$ 17. Gas 287.78 0.39 3.2% 10,648$ 18. Water / Sewage 506.14 0.69 5.7% 18,727$ Bloated due to high Sep-Nov bills (waste)19. - - 0.0% -$ 20. Grounds Maintenance #VALUE! #VALUE! #VALUE! IN R&M Amount in Repairs & Maintenance21. Waste Collection 237.70 0.32 2.7% 8,795$ 22. Security - - 0.0% -$ 23. Cable TV Service - - 0.0% -$ 24 Pest Control #VALUE! #VALUE! #VALUE! IN R&M Amount in Repairs & Maintenance
OTHER CONTRACT SERVICES25. - - 0.0% -$ 26. - - 0.0% -$ 27. - - 0.0% -$ 28. TOTAL OPERATING EXPENSES 3,521.30 4.78 39.6% 130,288$ 29. NET OPERATING INCOME 199,050$ 30. Capital Replacement - - 0.0% -$ 31. Less:Annual Debt Service 116,713$ 32. Less: Secondary Financing33. PRE-TAX CASH FLOW 82,337$
No. of Units TYPE
Approx. Sq. Ft
Monthly Rent/Unit
Rent PSF Monthly Income
Annual Income
15 1 Bed/1 Bath 671 736$ 1.10$ 11,042 132,504 22 2 Bed/1Bath 781 822$ 1.05$ 18,077 216,924
- - - - - - - - - -
37 27,247 Avg PSF 1.07$ 29,119$ 349,427$
Rental Income / Sq FtPrice / Sq Ft
1.07
Expenses and Other Income are based off of a T12 through Feb 2019. Income is based on current rent roll numbers
39.56%75.00%Break-Even Ratio
Total Price / Sq FtGRM
87.17
TOTAL ROI
Price / Unit $64,189.19Operating Efficiency Ratio
Key Ratios
4.786.80
$87.17
Operating Ratio (Exps / EGI)
CASH ON CASH ROI
18.05%
1.71
13.77%
DSCR (before reserves)(pre-tax)
DSCR (after reserves)
(after reserves)
Loan Information
Cost Assumptions
Assumptions
Property Information
Rental Information INVESTMENT INDICATORS
New Purchase 2-Apr
1.71
ANNUAL PROPERTY OPERATING DATA
COMMENTS / FOOTNOTES
8.38%CAP RATE
PURCHASE PRICE
Unit Mix Scheduled Market Rents
1310 Admiral Blvd. Kansas City, MO 64106
Jesse Rolla | (303) 968 - 8088 | [email protected]
Executive Summary
Financial Overview
Surrounding Area Photos
DOWNTOWNKANSAS CITY
1310 Admiral Blvd. Kansas City, MO 64106
Jesse Rolla | (303) 968 - 8088 | [email protected]
Executive Summary
Financial Overview
Surrounding Area
Close Proximity to:Downtown Kansas City, Kansas City University, Pendleton Heights, Kessler Park, Columbus Park
Photos
1310 Admiral Blvd. Kansas City, MO 64106
Jesse Rolla | (303) 968 - 8088 | [email protected]
Executive Summary
Financial Overview
Surrounding Area Photos