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101 5th St NE Washington, DC 20002-5935 Recommending a Strategy.

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Presentation on theme: "101 5th St NE Washington, DC 20002-5935 Recommending a Strategy."— Presentation transcript:

1 101 5th St NE Washington, DC Recommending a Strategy

2 Vision Purchase 101 5th St NE Transform 10 rooms into 10 units Rent property for 5 years Sell building or individual units

3 101 5 th St NE: VACANT List Price: $1,795,000 Property Type: Hotel & Motel Property Sub-type: Economy/ Limited ServiceProperty Use Type: Investment Lot Size: 0.03 AC Zoning Description: R4 Today’s Situation

4

5 Convert 10 hotel rooms into 10 individual apartment units Add 9 top of the line kitchens Update one existing kitchen Update 8 bathrooms Add 2 full bathrooms Convert 10 bedrooms into 10 individual apartment units Development Plans:

6 Revenue & Expenses Year 1Year 2 Revenues: Rental Income (Monthly) Unit 1$1,650$1, Unit 2$1,650$1, Unit 3$1,650$1, Unit 4$1,650$1, Unit 5$1,650$1, Unit 6$1,650$1, Unit 7$1,650$1, Unit 8$1,650$1, Unit 9$1,650$1, Unit 10$1,650$1, Total:$16,500$16, Annual Revenue:$198,000$201, Expenses: Advertising$850 Maintenance:$8,000 Property Insurance:10,000 Legal and Professional Fees:$1,000 Management Fee:$15,000 Property Taxes:$6, Total:$41,666 Annual Expenses:$41,665.77

7 Year 1: Year 2: Annual Revenue:$198,000$201, Annual Expenses:$41, Net Income:$156,334.23$160, Net Income

8 SUBTOTAL$2, TAX RATE6.00% SALES TAX$ OTHER TOTAL$2, Add Value: Land Improvements 101 5th St NE, Washington, D.C QUANTITYDESCRIPTIONUNIT PRICEAMOUNT 1Landscaping Materials$2, Exterior Lighting$100.00$200.00

9 Add Value: Building Improvement 101 5th St NE, Washington, D.C QUANTITYDESCRIPTIONUNIT PRICEAMOUNT 752 x 4 boards$2.75$ Drywall (light)$10.43$ x 4 boards$5.50$ Drywall Fasteners$2.25$ Contractor Completion of trim, doors, hardware$32, Completion of prime paint coat$15, SUBTOTAL$48, TAX RATE6.00% SALES TAX$2, OTHER TOTAL$50,891.02

10 Add Value: Furniture & Fixtures 101 5th St NE, Washington, D.C QUANTITYDESCRIPTIONUNIT PRICEAMOUNT 10Stainless Steel Dishwashers$399.00$3, Inch Stainless Steel Refrigerator$499.00$4, Stainless Steel Gas Range$429.00$4, Elkay 22-Gauge Double-Basin Drop-In Stainless Steel Kitchen Sink with Faucet $109.00$1, Kitchen Cabinets$500.00$5, Granite Countertops$300.00$3, Bathroom Vanities$399.00$3, Bathroom Mirrors$100.00$1, Washer/Dryer Stackable$399.00$1, SUBTOTAL$28, TAX RATE6.00% SALES TAX$1, OTHER TOTAL$30,259.82

11 2 Computers ($2,000 each) = $4,000 1 Printer ($200) = $200 Office Supplies = $500 Total: $4,700 Equipment

12 Year 1Year 2 Land320,960 - Building1,474,040- Improvements (to building)$53, Equipment (including computers)$4,700- Furniture & Fixtures$30, Office (for the company’s office costs)$12,00012,000 Vehicles$35,000- Other Assets (if any) -- Accounting Categorization


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