PROPERTY                    420 So 6th
UNITS                              12

1. $380 / 3040      8 - 1 bdrm 4--ground floor / 4-second floor
2. $355 / 355        1 - 1 bdrm downstairs
3. $250 / 250        1 - 1 small 1 bdrm downstairs
4. $350 / 700        2 - 1 bdrm downstairs

               $4345                         RENTAL income
     $52140             Annual Gross Income  ($4345 X 12)

PRICE                            $420,000
PRICE per UNIT            $35,000

Rental INCOME             $4345
Less vacancy 5%            (217)
Less Operating exp.        (1254 /mo)
GROSS                          $2874  ($4345 – 1471)
Annual Net Income      $34488   ($2874 X 12)

Operating EXPENSES                          
Taxes                            $335
Insurance                        $80                 
Utilities                            $320  (WSG 190-210/ electric.. bldg only 25 /Gas 95)
Maintenance                   $107  (yard/lawn, bldg clean-up etc)
Management                   $412
Total                              $1254

CASH on CASH return               8.5%
CAP rate                                     8.5%

This BRICK 12-plex is unique in the University area.   It is in the center of an historic residential area.  It only 4 blocks to the University center and  is surrounded by Historic homes.  Each unit has it’s own electric panel, and tenants pay their own utilities.  We purchased the building 6 years ago and have been improving it ever since.  There is a nice back yard for picnics,  rear alley parking, and front and rear entrances on each floor.  In many units we have re-finished the hardwood flooring. We installed wireless internet that costs the building $40/month.  It has proven significant in attracting and retaining tenants.  ALL units have 1 year leases.  Laundromat, coffee shops, fast food and groceries are available within a few blocks.  The building is under excellent management. We changed management and installed individual electric panels this summer. All units rented.