Maple Manor Apartments - 24 Units

 

Maple Manor Apartments 24 Units For Sale in Salinas

 

300 310 320 Maple Street Apartment For Sale in Salinas

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Complex Notes:

 

 

 

Salinas & Monterey County Facts:

 

 

Financials

 

 

Listing Price: $4,320,000 Building Sq. Ft: 14,793 Units 24
Down Payment: $2,175,000 Lot Square Ft: 29,808 Price/Unit: $180,000
Loan Amount: $2,145,000 APN: See Below Age: 1966
Current Rent GRM: 13.82 ProForma GRM: 10.47 Roof: Flat
Current Rent Cap: 3.87% ProForma Cap: 5.99% Price/Sq.Ft. $292
Current: ProForma:
Monthly Scheduled Rents: $25,650.00 $34,000.00
Scheduled Gross Annual Income $307,800.00 $408,000.00
Less: Vacancy Factor @ 3% $9,234.00 $12,240.00
Effective Gross Income: $298,566.00 $395,760.00
Plus: Laundry Income: $4,726.00 $393.83 $4,726.00 $393.83
Plus: Parking and Storage: $0.00 $0.00
Total Annual Income: $303,292.00 $400,486.00
Less Expenses:
Property Taxes: 1.103% $48,255.94 15.91% $48,255.94 12.05%
Repairs and Maintenance: $750 $18,000.00 5.93% $18,000.00 4.49%
Off Site Management: 6% $17,913.96 5.91% $23,745.60 5.93%
Property Insurance: $300 $7,200.00 2.37% $7,200.00 1.80%
Garbage: $983 $11,797.92 3.89% $11,797.92 2.95%
Sewer: $590 $7.084.80 2.34% $7.084.80 1.77%
Water: $10,080.00 3.32% $10,080.00 2.52%
Gas and Electric: $7,200.00 2.37% $7,200.00 1.80%
Landscaping: $450 $5,400.00 1.78% $5,400.00 1.35%
Miscellaneous: $3,000.00 0.99% $3,000.00 0.75%
Total Expenses: $5,664 $135,932.62 44.82% $141,764.26 35.40%
Net Operating Income: $167,359.38 $258,721.74
Annual Debt Service:: 5.00% $139,535.33 $139,535.33
Before Tax Cash Flow: $27,824.05 $119,186.41
Principal Reduction: $32,285.33 $32,285.33
Return Before Taxes: $60,109.38 $151,471.74

 

Notes:

 

1. 300, 310, and 320 Maple Street consis of APN's 002-471-064/065 and 066.
2. The three 8-unit buildings are offered as a pcakage or individually.
3. Property taxes are based on new Proposition 13 rates.
4. Repairs and maintenance is estimated at $750 per unit.
5. Garbage costs are from Republic Waste Services.
6. Sewer costs are from Monterey One Water.
7. Water is based on the Seller's last 12 months water bills.
8. PGE is based on the Seller's last 12 months PGE bills.
9. Landscaping is estimated.

 

 

Rent Roll

 

BUILDING UNIT NUMBER UNIT TYPE CURRENT RENT MARKET RENT
300 1 One Bedroom / One Bathroom $1,200 $1,400
300 2 Two Bedroom / Two Bathroom $1,470 $1,600
300 3 One Bedroom / One Bathroom $940 $1,400
300 4 One Bedroom / One Bathroom $930 $1,400
300 5 One Bedroom / One Bathroom $1,050 $1,400
300 6 Two Bedroom / Two Bathroom $1,180 $1,600
300 7 One Bedroom / One Bathroom $950 $1,400
300 8 One Bedroom / One Bathroom $940 $1,400
310 1 One Bedroom / One Bathroom $1,150 $1,400
310 2 One Bedroom / One Bathroom $950 $1,400
310 3 One Bedroom / One Bathroom $990 $1,400
310 4 One Bedroom / One Bathroom $1,250 $1,400
310 5 One Bedroom / One Bathroom $970 $1,400
310 6 One Bedroom / One Bathroom $940 $1,400
310 7 One Bedroom / One Bathroom $940 $1,400
310 8 One Bedroom / One Bathroom $940 $1,400
320 1 One Bedroom / One Bathroom $940 $1,400
320 2 One Bedroom / One Bathroom $1,200 $1,400
320 3 One Bedroom / One Bathroom $1,130 $1,400
320 4 One Bedroom / One Bathroom $1,100 $1,400
320 5 One Bedroom / One Bathroom $950 $1,400
320 6 One Bedroom / One Bathroom $1,150 $1,400
320 7 One Bedroom / One Bathroom $1,400 $1,400
320 8 One Bedroom / One Bathroom $990 $1,400
Monthly Scheduled Rent: $25,650 $$34,000
Annual Scheduled Gross Income: $307,800 $408,000

 

 

 

Area Map

 

300 310 320 Maple Street Salinas Area Map

 

Maple Manor Apartments located in Salinas California 24 Unit Multi-Family For Sale

 

Parcel Map

 

Maple Manor Apartments Salinas Plot Map

 

310 Maple Street Apartment for Sale in SalinasMaple Manor 24 Unit Multi-Family For Sale in Salinas

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Monterey, CA 93940

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