Building

2845 W Belmont

2845 W Belmont Ave · Avondale Built 1998 32 units

Ownership

Wholly-owned

Occupancy

93.8%

30 of 32 units occupied

T12 NOI

$408K

Avg rent $2,150 · Cap 6.00%

Valuation

$6.8M

Equity $2.4M · LTV 65%

DSCR

1.28x

Covenant 1.20x · Buffer 7%

T12 NOI

Monthly NOI vs occupancy

Loan

Debt summary

Outstanding

$4,400,000

Rate

6.75%

Maturity

Sep 30, 2027

Months to maturity

15 mo

Annual debt service

$342K

DSCR (covenant 1.20x)

1.28x

Cash Flow

T12 levered waterfall

Trailing 12

Net Operating Income

$408,000

(less) Annual debt service

-$342,460

(less) T12 capex

-$36,225

Levered cash flow

$29,315

Available for distributions or capex reserve. Coordinate with waterfall before distributing.

Depreciation

Annual non-cash

$198K

Straight-line, 27.5 years (residential), on building basis of $5.4M.

Building basis (80% of value)

$5.4M

Useful life

27.5 years

Method

GAAP straight-line

Tax shield estimate (37%)

$73K

Cost segregation could accelerate ~20-30% to 5/7/15-year lives. Coordinate with the CPA on bonus depreciation timing.

Rent Roll

Live unit detail

Sample rent roll only loaded for the demo building (1247 N Damen). AppFolio sync will populate the rest.

Capex

Capital projects

YTD $32KT12 $36K

Routine turnover and unit refresh costs. Standard run rate.

Open

$5K

Capex / unit / yr

$1,132

Documents

Linked files

Loan agreement

2845 W Belmont Loan Agreement 2025.pdf

AI-parsed

Insurance

2845 W Belmont Policy 2026.pdf

AI-parsed