You are looking at purchasing a 100 unit apartment building with 25 of the units being 1 bedroom, 50 of the units being 2 bedrooms and 25 of the units being 3 bedrooms. The 1 bedroom rent for $700 per month, the 2 bedrooms at $900 per month and the 3 bedrooms at $1,200 per month. The complex gets additional income through vending machines and washer/ dryer of $5,000 per month. Operating expenses include: utilities of $ 25,000, property taxes of $75,000, management fee of $25,000, repairs and maintenance of $12,500, property insurance of $55,000, and miscellaneous of $65,000. Depreciation amounts to $10,000per month. Assume a vacancy rate of 15%. You are able to get a loan for 4.75% with 30% down. Your return is 11%. Make sure to show your work.

i. Calculate the cap rate.

ii. Calculate the Gross Income.

iii. Calculate the Operating Expenses.

iv. Calculate the NOI

v. Calculate the value of the apartment building.