Available: Investment Property “Water Point Apartments”

Available:
Investment Property
“Water Point Apartments”
:: 808 S. Water | Wichita, KS
Real
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Table of Contents
I. Disclaimer
II. Project Summary
III. Financial Projections
IV. Aerial Photos
V. Exterior Photos
VI. Interior Photos
VII.Maps
Real
Brokerage
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Site
Estate
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Group
l Investment l Development l Property Management
608 West Douglas, Suite 106, Wichita, KS 67726
phone: 316.618.1100 fax: 316.618.1140 email: [email protected]
l
Consulting
InSiteRE.com
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Information Disclaimer
This offering has been prepared solely for informational purposes and does not
constitute all or any part of an offer or contract. It is designed to assist a potential
Buyer in determining whether to proceed with an in-depth investigation of the
subject property. The information is offered subject to errors, omissions, cancellation, modification or withdrawal from the market without notice.
The information in this package has been compiled from sources deemed to
be reliable. However, neither the information, nor the reliability of the sources, is
guaranteed by InSite Real Estate Group, LLC, or its agents, affiliates or assigns.
While we have no reason to doubt the accuracy of the information profiling the
property, it is the responsibility of all prospective Buyers and/or Tenants to independently confirm the accuracy of the same to their satisfaction. Prospective
Buyers and/or Tenants should seek professional advice, including legal, tax, real
estate, environmental, or other as deemed necessary relative to a purchase or
leasing of this property.
In addition, neither the Seller nor InSite Real Estate Group, LLC, or its agents,
affiliates or assigns make any representation or warranty of any kind or nature
regarding the condition, future use, environmental status, or code compliance
of the property. It is the responsibility of each prospective Buyer and/or Tenant to
make an independent investigation of the Property and to rely solely upon such
investigation.
The contents herein are not to be reproduced or distributed to another party
without the prior written consent of InSite Real Estate Group, LLC.
Project Summary
Property Description *
The property consists of 2 apartment buildings with 24 individual units, (all studio’s). The
property has abundant parking, and mature trees. Construction consists of two story wood
frame with masonite siding exterior. The buildings feature pitched roofs with composition
shingles
Location
The property is located near downtown Wichita in close proximity to the Hotel at Water Walk,
Intrust Bank Arena, Century II and Old Town. The property is close to a city bus stop, and is
located very close to Kellogg (US-54).
Building Area
10,560 Sq. Ft.
Site Area
.49 Acres
Year Built
2004
Real Estate Taxes
$8,427.98
Units
24
Pro-Forma NOI *
$61,480
Pro-Forma Cap Rate *
8.85%
Sale Price
$695,000
Contact Information
Carl Hebert, CCIM
InSite Real Estate Group, LLC
(316) 618-1100
www.InSiteRe.com
* InSite Real Estate Group has not undertaken any independent investigation of the information contained herein. The Owner and InSite Real Estate Group
make no representations or warranties regarding the accuracy or completeness of the information setforth herein, except as otherwise expressly provided
herein, and disclaim any liability whatsoever resulting from the falsity, inaccuracy, incompleteness or omissions, if any, relating to the facts and information
set forth herein. All parties are advised to make their own inspections, analysis and verification.
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Financial Projections
*
WaterPoint Apartments
808 S. Main St.
Wichita, Kansas
*Investment Summary
ProForma Value
Price / Unit
Price / Sq. Ft.
Cap Rate
Proposed Loan 75%
Down Pymnt/Equity
Interest Rate
Amortization
Loan Payment
Executive Summary
$
$
$
$
$
695,000.00
28,958.33
65.81
8.85%
590,750.00
104,250.00
5.00%
20
($46,784.26)
Pro Forma Income and Expenses
WaterPoint Rent Levels
Units
Type
Sq. Ft.
24
1b 1b
Total/Average
Number of Units
24
Year Constructed/Renov
1971
Roofing
Flat Modified Bitchiman
Utility Metering
Individual
No Gas on site
Acreage of Site
Density Per Acre
Unknown
Total Rentable Sq. Ft.
10,560
Average Sq. Ft/Unit
440
Total Sq.Ft.
Rent
440
10560 $
400.00
440
10,560 $
171.43
Total Rent
$
-
Rent / Sq. Ft.
$
9,600.00
$
0.91
$
9,600.00
$
0.23
Income
Gross Scheduled Rent
Less: Vacancy / Concessions
Net Rental Income
Plus: Other Income
Utilities collections
Laundry Income
$
10% $
$
$
$
$
$
Adjusted Income
115,200.00
11,520.00
103,680.00
103,680.00
Expenses
Administrative, Advertising, Promotion,& Legal/Eviction
Payroll
Repairs and Maintenance
Management Fees
0%
Utilities
Electric, Gas, Water & Sewer
Contracted Services
Includes Trash Removal
Real Estate Taxes
Insurance
Replacement Reserves, large ticket items
Total Expenses
per square foot $
4.00
$
$
$
$
$
$
$
$
$
$
2,500.00
7,500.00
7,200.00
2,400.00
8,600.00
4,000.00
10,000.00
42,200.00
Net Operating Income
$
61,480.00
($46,784.26)
$
14,695.74
77.24%
14.10%
Less: Debt Service
Projected Net Cash Flow
Break-Even Occupancy
Cash-On-Cash Return
1.31 to 1
* InSite Real Estate Group has not undertaken any independent investigation of the information contained herein. The Owner and InSite
* InSite Real Estate Group has not undertaken any independent investigation of the information contained herein. The Owner and InSite Real Estate Group
Real Estate Group make no representations or warranties regarding the accuracy or completeness of the information setforth herein,
make no representations or warranties regarding the accuracy or completeness of the information setforth herein, except as otherwise expressly provided
except as otherwise expressly provided herein, and disclaim any liability whatsoever resulting from the falsity, inaccuracy,
herein, and disclaim any liability whatsoever resulting from the falsity, inaccuracy, incompleteness or omissions, if any, relating to the facts and information
incompleteness or omissions, if any, relating to the facts and information set forth herein. All parties are advised to make their own
set forth herein. All parties are
advised to make their own inspections, analysis and verification.
inspections, analysis and verification.
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Aerial
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Aerial Photos
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Photos
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Photos
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City Map
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Neighborhood Map
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