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RE/MAX Horizons Realty Premiere Investment Team Features:

Ridgetop Apartments!

Portfolio Sale Of Three Complexes In Northwest FL And South AL!!!


	Highlights
	$2,725,000 APPRAISAL! History of Full occupancy and Top dollar rents! 80 streamlined units in good condition! Great income producing property!

Financial Summary:

Item	Actual

Scheduled Gross Income	$427,200.00
Vacancy	$21,360.00
Effective Gross Income	$422,466.00

Operating Expense	$0.00
Expense/Unit	$2,365.00
Maintenance	$42,245.00
Taxes	$36,549.00
Insurance	$10,472.00
Other Expenses	$99,937.00
Total Expenses	$189,203.00

Net Operating Income	$233,243.00
Debt Service	$152,439.00
Other Capital Costs	$0.00
Pre Tax Cash Flow	$81,121.00

Currency: USD

Financing

Type	Amount	Rate	Term	Due	Annual Debt Service

Proposed	$2,000,000	5.85%	25 yr	7 yr	$152,439

Unit Mix Information

Description	No. Units	Avg. SF	Avg. Mo. Rent	Avg. Mo. Rent/SF

two bedroom one bath	60	834	$ 450.00	$ 0.54
one bedroom one bath	20	690	$ 390.00	$ 0.57

Ridgetop Apartments Page 3

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Copyright © 2002 Horizons Realty, INC.
Last modified: 02/04/2003