471 Somerset 925k

471 Somerset St. W Asking Price: $925,000 PRESENTED BY: Synercapital Real Estate Investment Services Inc. Alex Diaz, Broker of Record Tel: 613.860.3500 ext. 27 Cell: 613.263.0133 Email: [email protected] www.synercapital.ca

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

TABLE OF CONTENTS

::

Property Description

Section 2

::

Pricing & Financial Analysis

Section 3

::

Rent Roll

Section 4

::

Comparables

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

::

Section 1

Location

471 Somerset St. W

Close to

Kent

Units

6

Asking Price

$925,000

Price/Suite

$154,167

Reference

N/A

Year Built

1945

Lot Size

44’ x 112’

Construction

Brick/Wood frame

# of Stories

Three

Balconies

Yes - 3 Sunrooms

Elevator

N/A

Intercom

Buzzer system

Hall Floors

Carpet

Fridges / Stoves

6 Fridges/6 Stoves

Heating Type

Oil boiler (Owned)

Hot Water Supply

Gas Heated HWT (Rental)

Washer / Dryer

1/1 Owned

Parking / Garages

8 Outdoor Parking Spots

Leases

1st Yr Lease then Month to Month

Bricks

Good condition

Hydro

Paid By Tenants

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

PROPERTY DESCRIPTION

This Apartment Complex is located in the heart of the City of Ottawa. Beautiful, spacious apartments featuring hardwood and ceramic flooring, large living and dining rooms, renovated bathrooms as well as enclosed balconies. This charming building consists of 4 one bedroom with den and 2 two bedroom apartments. Centrally located, this building easily attracts tenants for both parking and residential. Tenants are all professionals.

::

SUMMARY INFORMATION

New Approx 2000 Good Condition

Windows

Thermo- New 1991 Good Condition

Balconies

Wood- Minor Repairs Required

Parking

Minor Repairs Required

Fire Retro

Yes- Letter of Compliance

Htg Equip

Good Condition

Frdgs/Stvs

Good Condition

Elevator

N/A

Plumbing

Copper

Excellent income producing property with possible upside on rents and laundry coin slot increase. The building has individual hydro meters and the tenants are paying their own hydro. Suites are in good condition and have enclosed balconies. Capital items such as the roof, heating, windows & domestic hot water are in good condition. Many renovations completed in 2005 including: new carpet in common areas, some new appliances and fresh paint throughout.

NEIGHBORHOOD INFO : Centrally located within Ottawa. Situated in between the 417 Highway and the downtown core of Ottawa, and close to all amenities.

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

PROPERTY DESCRIPTION

Roof

STATUS OF CAPITAL ITEMS:

::

CAPITAL ITEMS

Rental Income :

$67,920

Property Taxes:

$7,469

Parking:

$1,800

Insurance:

$2,201

Laundry:

$3,504

Hydro (Common Areas):

$960

Less Vacancy (2%):

$(1,465)

Heat:

$4,500

Other Income

$0____

Water/Sewer

$1,151

Gross Effective Revenue:

$71,759

Maintenance ($400 per unit):

$2,400

Superintendant / Management

$2,400

Snow Removal and Ext. Maintenance:

$1,200_

Total Expenses:

$22,281

NET OPERATING INCOME:

$49,478

ASKING PRICE:

$925,000

PRICE / UNIT

$154,167

ASKING CAP RATE

5.35%

MORTGAGE INFO: 1st Mortgage

Amount %

Amount $

Rate

75%

$693,750

3.8%

Mon. Payment Ann. Payment Principle $2,977

$35,723

$10,510

CASH / DOWNPAYMENT REQUIRED: Cash Required

$231,2450

Downpayment

25%

Gross Annual Income

$71,759

Less Total Expenses

$22,281

Net Operating Income

$49,478

Cap Rate

5.35%

Less Mortgage. Payments

$35,723

Cash Flow

$13,755

Cash Return

5.5%

Principal Recap

$10,510

Principle Return

4.2%

Total Return on Investment

$24,265

Total Return of Investment

9.6%

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

PRICING & FINANCIAL ANALYSIS

EXPENSES:

::

REVENUE:

RENT ROLL

:: PROPERTY ADDRESS: RENT ROLL - AS OF DATE:

471 SOMERSET ST. W MAY 2009

Unit

Bedrooms

Rent

Rent Increases *

Unit 1

1

$865

$881

Unit 2

1

$850

$865

Unit 3

2

$1,095

$1,115

Unit 4

1

$850

$865

Unit 5

2

$850

$865

Unit 6

2

$1,050

$1,069

Monthly Income from Rent *

$5,660

Parking Income

$150

Laundry Income

$292

Other Income

$0 __

TOTAL MONTHLY INCOME

$6,102

TOTAL ANNUAL INCOME

$73,224

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.

COMPARABLES

::

471 Somerset St. W Ottawa, ON photo

# of Units: 6

Price/Unit: $154,167

Closing Date: n/a Net Income: $49,478

CAP rate: 5.35%

Asking Price: $925,000

1

285 Clarence St. Ottawa, ON # of Units: 5

Price/Unit: $162,500

Closing Date: Jul 2008 Net Income: $44,159

CAP rate: 5.43%

Sale Price: $812,500

2

105 Arlington Ave. Ottawa, ON # of Units: 5

Price/Unit: $151,000

Closing Date: Feb 2008 Net Income: $37,985

CAP rate: 5.03%

Sale Price: $755,000

3

449 Somerset St. W Ottawa, ON # of Units: 6

Price/Unit: $133,166

Conditionally Sold Net Income: $44,591

CAP rate: 5.58%

Asking Price: $799,000

DISCLAIMER: The information herein contained has been provided by the principals and sources which we deem reliable, but for which we assume no responsibility, and make no guarantees or warranties as to its accuracy. The information provided should be verified by you and your advisors, and is subject to change without notice.