Four plex

[Edgar Leon]

Hello BP,

I'm starting analyzing a 4 plex in Mesa AZ with HOA. What do you think about a four plex with HOA?

Parking Information
• # of Parking Spaces (Total): 8.00
• # of Parking Spaces (Covered): 4
• # of Parking Spaces (Uncovered): 4
• Additional Parking, Paved Parking, Carport

School Information
• Elementary School District: 004 - Mesa Unified District
• High School District: 004 - Mesa Unified District

Utility Information
• APS Electric
• No Gas
• City Water Franchise
• Sewer (Public)

Financial Information
• Annual Electric Expense: $79.24
• Annual Maintenance Expense: $2,097.92
• Annual Management Expense: $1,786.10
• Annual Trash Expense: $385
• Annual Water/Sewer Expense: $1,731.01
• Owner Association
• Annual Owner Association Fee: $3,600
• Gross Annual Scheduled Income: $250,000
• Adjusted Gross Income: $245,000
• Vacancy Allowance: 0.02
• Total Month Rental Income: $2,040
• Net Operating Income: $13,279.27
• Cap Rate: 7.18
• Equity: $185,000
• Existing 1st Loan: Conventional
• Existing 1st Loan Type: Fixed
• Existing 1st Loan Type: Non Assumable
• Existing 2nd Loan: Other (See Remarks)
• Existing 3rd Loan: Other (See Remarks)
• New Financing: Conventional, FHA
• Taxes: $1,147
• Tax Year: 2014