Page 18 - NOLASky_OfferingMemorandum_GSP
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Financial Analysis
Operating Assumptions Untrended
Revenue Units SF Total SF Rent PSF Rent/Unit/Mo Annual Rent
2 Bed/2 Bath 120 1,056 SF 126,720 SF 1.46 1,542 2,220,134
3 Bed/2 Bath 40 1,317 SF 52,680 SF 1.25 1,646 790,200
Apartment Revenue 160 1,121 SF 179,400 SF $1.40 $1,568 $3,010,334
Other Income $/Month $114 % of units paying 100% 218,880
Potential Gross Income $3,229,214
(-) Vacancy Factor % of PGI 5% (161,461)
Effective Gross Income $3,067,754
Expenses
General & Administrative Per Year 608/Unit 97,200
Marketing Per Year 225/Unit 36,000
Repairs & Maintenance Per Year 300/Unit 48,000
Payroll Per Year 348/Unit 55,600
Utilities Per Year 825/Unit 132,000
Contract Services Per Year 858/Unit 137,200
Management Fee % of EGI 3.5% 107,371
Property Taxes Per Year 2,039/Unit 326,223
Insurance Per Year 548/Unit 87,680
Total Operating Expenses Per Year $6,420/Unit $1,027,274
Net Operating Income 66.5% $2,040,479
Replacement Reserves Per Year 300/Unit 48,000
Net Cashflow 6,720/Unit 64.9% $1,992,479
18 | NOLA Sky
