Updated about 10 years ago on . Most recent reply
price for 24 units luxury apartments based on noi
just wondering with these basic P&L numbers, what would be a good offering price?
using their initial number, i believe it puts the deal at about a 6.7 cap
24 units, 12 1/1, 12 2/2
gross rents 297k
other income ~10k
utilities 20k
repeairs 27k
advertising 1200
admin 17k
management fees 15k
taxes and insurance 36k
NOI = 184k
property seems a good bit overpriced at 2.7 mil
it is in a central area where home prices are relatively high, gated community, and very nice units