1 of 8 multi-family units in this subdivision. We have management/ownership of 6 of the 8 units. Current rents are under market as the long term tenants have never had rent increases. We have successfully taken up all of the units we own & manage to $725 upon vacancy. Cash flow takes a hit while current renters are in place, but the 0% current vacancy rate offsets current under market rent. Pro Forma #'s are based on future rent of $725. Actual rents below. Unit 26: HVAC is 2013. Hot Water Tank 2011. Initial lease started 9-15 and Current lease is through 9-16. Current rent of $685 Unit 27: HVAC will be New. Hot Water Tank 2013. Initial lease started 5-14 and Current lease is through 11-16. Current rent of $675 has never been raised. Unit 28: HVAC will be New. Hot Water Tank will be New. Initial lease started 6-15. Current lease is through 6-16. Current Rent of $685
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