Lakeshore Terrace - Underwriting Model.xlsx

Underwriting Model · filed October 14, 2022 · deal: Lakeshore Terrace
Tab: Summary
Summary
Going-in cap rate (T-3 NOI / purchase price)5.71%Purchase CAP Rate
Tab: Returns
Returns
Exit, year 6: sale at a 5.96% cap rate$15,250,000Expected Sale Proceeds
Cash-on-cash by year: Y1 5.7%, Y2 6.0%, Y3 6.3%, Y4 6.7%, Y5 7.1%, Y6 7.3%Projected Returns - Yearly (1-10?)
Levered IRR12.7%Expected IRR - Hold
Equity multiple1.90xExpected Equity Multiple - Hold
Hold period6 years (exit 2028)Expected Hold
Tab: Debt
Debt
Rate typeFloatingLoan #1 - Floating or Fixed
Interest rateSOFR + 2.10% (5.82% all-in)Loan #1 - Rate
AmortizationI/O 36 months, then 30-year amortizationLoan #1 - I/O or Amortizing
Term7 yearsLoan #1 - Term
MaturityOctober 31, 2029Loan #1 - Maturity Date
Tab: Capex
Capex
Capital budget: Roof $217,000, Unit renovations $775,000, Amenities $93,000; total $1,085,000Budgeted Capex (by category)
On file

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Answers: UW

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