Answered Essay: You have been offered a block of ten flats which has been just completed. The price is $2.0 million ($600000 f

Question 4 You have been offered a block of ten flats which has been just completed. The price is $2.0 million ($600 000 for land and $1.4m for the building). The local estate agent advises that you can expect gross rent at $2000/month/flat, and an average occupancy rate of 95%. You would like at least 8.0% per annum before tax. The analysis period is 20 years, with an estimated property sale value of $2.71m (net of sales expenses) at that time. The outgoings are as follows Caretaker Heating fuel Water Agent commission Insurance Maintenance Other costs : $900/month : $3500lyear : $1300lyear : 2.0% of gross rental revenue/month : 1.6% of first cost of building/year : One-month rental on each flatlyear 2.5% of first cost of building/year Analyse the investment cost or benefit of this property, and advice on the Net Present Value and the Internal Rate of Return. Discuss and comment on these results

You have been offered a block of ten flats which has been just completed. The price is $2.0 million ($600000 for land and $1.4m for the building). The local estate agent advises that you can expect gross rent at $2000/month/flat, and an average occupancy rate of 95%. You would like at least 8.0% per annum before tax. The analysis period is 20 years, with an estimated property sale value of $2.71m (net of sales expenses) at that time. The outgoings are as follows: Analyse the investment cost or benefit of this property, and advice on the Net Present Value and the Internal Rate of Return. Discuss and comment on these results.

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