111. An investor evaluates an apartment complex using the income approach. Recent
sales in the area consist of an apartment complex and an office building. The data
on the apartment complex and the recently sold properties are provided below. All
income and expenses are annual.
Gross potential rental
$288,000
income
Estimated vacancy and
collection losses 5%
Insurances and taxes $25,000
Utilities $16,000
Repairs and
$26,000
maintenance
Depreciation $32,000
$27,000
Interest on proposed
financing
The NOI of the apartment complex under consideration is closest to:
A. $147,600.
B. $174,600.
C. $206,600.
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