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Expenses

Gross: $46,800

Expenses: $12,016

NOI: $34,784

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Actual Remodel Costs & Projected

11 Tompkins Actual Cost 2020: $39,832

Unit 11 & 13 have been fully updated with an additional 1/2 bathroom, an opened up kitchen with breakfast bar, new furnace and AC, new electric, plumbing, floors, windows, etc... See full list here:

11-17 W. Tompkins

15 Tompkins Estimated Cost: $21,435

15 Tompkins has been partially remodeled with new furnace and AC, new upstairs full bathroom, partial electric replacement, and new windows. It has not been updated to the level of 11 & 13 Tompkins. The above is an estimate to bring unit 15 to that standard allowing for a much greater potential increase in rent.

Total Estimated Remodeling Costs: $61,267

The combined remodeling estimate for both units 15 and 17. 17 West Tompkins would be a complete remodel.

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CAP Rates

Current CAP Rate: 5.35%

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Remodels + Increased Rent CAP Rates: 6.41% - 7.08%

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Disclaimer

The information contained herein has been obtained through sources deemed reliable by ARX Real Estate and the seller, but cannot be guaranteed for its accuracy. We recommend to the buyer that any information, which is of special interest, should be obtained through independent verification. ALL MEASUREMENTS ARE APPROXIMATE.

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ARX Real Estate

68 South Fourth Street Columbus, Ohio 43215 (614)-260-5377 [email protected]