Skip to content
Classifieds

User Stats

84
Posts
28
Votes
Evan Torrens
  • Valley Cottage, NY
28
Votes |
84
Posts

Exciting Investment Opportunity

Evan Torrens
  • Valley Cottage, NY
Posted Apr 14 2018, 22:30

Deal Summary

Located within the Art Museum district, Airbnb guests will be minutes from the popular museums and center city attractions. This being said, this is likely to attract nightly rental rates above $150 night providing investors with north of a 12% annual return. 

Property Details

801 N WOODSTOCK St is a multi-family home in PHILADELPHIA, PA 19130. This 2,975 square foot multi-family home sits on a 1,190 square foot lot and features 4 bedrooms and 4.5 bathrooms. 

Fantastic corner triplex with parking on a beautiful tree-lined block in the Art Museum! This building offers 3 bi-level units -- two 1 bedrooms and one 2 bedroom with a 2-car garage.

Projection Model

Property
Address 801 N Woodstock
Square Feet 2,975
Number of Units 3
Acquisition
$/PSF $/Unit
Purchase Price $825,000 $277 $275,000
Closing Costs 8.50% $70,125 $24 $23,375
Renovations $25,000 $8 $8,333
Reserves $20,625
Total Cost $940,750 $316 $313,583
Less: Senior Loan 75.00% ($618,750.00)  
Equity Needed $322,000 $108 $107,333
Projected Year 1 Cash Flow - Airbnb
AirBNB Rental
Gross Potential Rent $105,600 $76,800
Less: Vacancy ($5,280) ($6,000)
Effective Gross Income $100,320 $70,800
Less: Operating Expenses ($10,600) ($7,000)
Net Operating Income $89,720 $63,800
Less: Debt Service 5.50% ($51,076) ($51,076)
Free Cash Flow $38,644 $12,724
Initial Annual Cash on Cash Return 12.00% 3.95%
Initial Annual Cash on Cash Return - Investor $38,644 $12,724
Initial Annual Cash on Cash Return - Investor (%) 12.00% 3.95%
Rent Roll
Unit Type Annual Rent
AirBNB Rental
1 2 br / 2ba / 2 Gr $39,600 $33,600
2 1 br / 1 ba $33,000 $21,600
3 1 br / 1.5 ba $33,000 $21,600
Total $105,600 $76,800
       
       
AirBnb Revenue Assumptions on 2 Br / Ba / 2 Gr
Low High
Average price per night $140 140
Average monthly occupancy 65% 90%
Average monthly revenue $2,730 $3,780
Average annual revenue $32,760 $45,360
       
       
High- Level Budget Furnishing
       
Furnishing $25,000   Décor $3,000
$25,000   Bedroom(s) $8,000
    Bathroom(s) $3,000
    Living Room $7,000
  Other Rooms $4,000
       
  Subtotal $25,000 
Nightly Monthly Annually
Average Booking Rate $400 $12,000 $144,000  
Less: Operating Expenses for Airbnb ($70) ($2,100) ($25,200)  
Gross Potential Rent $180 $17,600 $211,200  
 
Prospective Booking Income Per Unit/ Night
Unit Type Sq Ft Nightly Monthly Annually
1 2 br / 2ba / Gr 1,200 $150 $3,300 $39,600
2 1 br / 1 ba 825 $125 $2,750 $33,000
3 1 br / 1.5 ba 950 $125 $2,750 $33,000
2,975

$400 $8,800 $105,600 

For Investment terms please contact: [email protected]

Looking for