138 units Apartment Breakdown Monthly Rent (36) Studios $ 750.00 (48) 1 Bedrooms 1,500.00 (42) 2 Bedrooms 2,200.00 (12) 3 Bedrooms 2,700.00

Closing Costs: 2.5% of Purchase Price Vacancy: 3% of Gross Potential Rent Loan Constant: 6.5% Ordinary Income Tax Rate: 28%

Capital Improvements: $ 213,000 Real Estate Taxes 187,000 Insurance 73,000 Annual Debt Service 1,337,213 Payroll and Payroll Taxes 185,000 Union Benefits 37,500 Utilities 78,000 Repairs 150,000 Supplies 30,000 Legal and Accounting 25,000

1. What is the Mortgage Amount?

2. How much equity is invested in the property?

3. What is the LTV?

4. What is the cash-on-cash return (after debt service) on this investment?