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Comp. Income and Expense Operating Data for new Apt bldg
I've begun to model out a land acquisition and MF development pro forma for a 7 unit, 8000rsf apartment in San Diego. I'm unfamiliar with what appropriate income and expense figures are for small apartment buildings in the area. I see according to the link below that average operating expenses are around ~$4,500 a unit. I'd like to be able to get more in detail and confirm such figures.
http://www.naahq.org/sites/default/files/naa-docum...
Btw, any tips for modeling? I've had to model out pro formas for CRE classes in school but am not experienced in a real world setting.