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A real estate investor has the following information on an apartment building: Purchase Price is $1,125,000 with acquisition costs of $50,000 33,600 leasable square feet

A real estate investor has the following information on an apartment building:

Purchase Price is $1,125,000 with acquisition costs of $50,000

33,600 leasable square feet

Initial rent of $12/sq. ft. per year and will increase 5 percent per year

Vacancy rate of 5% of gross rent per year

Operating Expenses are 40% of Effective Gross Income

Three financing choices:

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