Financial information for this 6-8 Unit that SOLD in August, 2024
This Six to Eight Unit is located in Central Ottawa, with four 1-Bedroom Units, and four 2-Bedroom Units. The property was listed for $1,397,000, and sold for $1,366,200.
- Scheduled Rental Income was $122,392
- Effective Rental Income was $118,720
- Operating expenses of $42,515
- Total Operating Expenses, with 10% for maintenance/management $54,387
- Net operating income of $64,333
- Cap Rate was 4.71%
- Operating Expense Ratio was 45.8%
- Sold for 12 times the Gross Income
- Sold for 21 times the Net Income
With an 31% down payment of $423,522, this leaves a mortgage of $942,678. At a 4.7% rate, amortized over 25 years, the monthly mortgage payment would be $5,323, for an Annual Debt Service of $63,876 (this is the annual mortgage payment).
The final cash flow on this building was $457 and the ROI (return on investment) was 0.11%.