Home / Expert Answers / Finance / a-three-unit-property-has-an-apartment-1050-month-over-two-commercial-units-being-a-jewelry-store-pa778

(Solved): A three unit property has an apartment ($1050/month) over two commercial units being a jewelry store ...



A three unit property has an apartment ($1050/month) over two commercial units being a jewelry store and a beauty salon. The jewelry store is rented for $350/mo in year 1, $375 in year 2 and $410 in the 3rd year. The beauty salon is rented for $790/month. A parking space is rented for $100/month. The vacancy rate is 1.7%. What is the effective gross rent (EGI) used in calculating NOI for this property? Your Answer:



We have an Answer from Expert

View Expert Answer

Expert Answer


Ans. Yearly rent of apartment = $ 1050 * 12 = 12600 Yearly rent of jewellery store = (350 + 375 + 410) / 3 * 12 = 4540 yearly r
We have an Answer from Expert

Buy This Answer $5

Place Order

We Provide Services Across The Globe