Park Figuera is a 125-unit garden apartment complex. Each unit is a 1-bedroom apartment with monthly rent of $1500 On average 10 units are vacant at any given time. The landlord pays for all operating expenses. The owner is forecasting the following line items Property tax: $150 thousand/year Income tax: $250 thousand year Insurance: $50 thousand year Maintenance (variable) $50/apartment/month Depreciation expense $60 thousand year Interest expense $500 thousand year Utilities (variable) $150/apartment/month Management expenso: 2% of property gross income What is the projected not operating income (NOI) of this apartment building (annual)?

Pax. Figuera is a 125 -unt garden apartment complex. Each unit is a 1-tedroom apartinent with monttily reit of $1500 On average 10 unts are vacant at any given time. The landiord pays for alf operating expenses. The coner is forecasting the folowing line tems - Propenty tax $150 thousandyear - Income tax \$250 thousandyear - Insurance $50 thousandyear - Maintenance. (variable) \$50/apartmentimonth - Depreciation expense 560 thousandyear - Interest expense $500 thousandyear - Uiafies (variabio) $150/apartment month - Managoment expense 2% of property gross income What is the projected not coerating income (NOI) of this apartroent bulding (amual)? \begin{tabular}{|} $$,692,000 \\ \hline$1,930,000 \\ $1,168,000 \\ \hline$2,311,000 \\ \hline$1,549,000 \\ \hline \end{tabular}