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Comparable Buildings $ 10 Number of Apartments Monthly Rent/apt. Operating Costs: Variable (% of GPI) Fixed (monthly)/apt. $ Vac & Coll. Allowance Recent Purchase

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Comparable Buildings $ 10 Number of Apartments Monthly Rent/apt. Operating Costs: Variable (% of GPI) Fixed (monthly)/apt. $ Vac & Coll. Allowance Recent Purchase Price Life expectancy $ 3,550,000 $ 3,400,000 $ 40 years A 45 1,165 $ B C D X 42 33 30 35 1,100 $ 1,210 $ 1,140 $ 1,200 25% 20% 25% 21% 20% 300 $ 310 $ 275 $ 320 $ 310 3.50% 3.50% 3.50% 3.50% 3.50% 3,150,000 $3,000,000 40 years 40 years 40 years 40 years

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