Updated over 8 years ago on . Most recent reply
Feasibility on 120 units
Need some help. I primarily have experience in the hotel industry. Looking at a multifamily project and trying to see if the land cost is justified. Looking at $2.5 mil for 2 acres with an existing structure that will need to be demolished. Wanted to develop an elevated structure, 4-5 stories, 120 units. Average rents $1300 a month. Can anybody share a template etc to determine my NOI or where I need to be make the project pencil out. Also, what lending term are people seeing on a project similar to this. Thanks.