Assume an apartment building contains 120 units. 60% are one-bedrooms that rent for $1000/month and 40% are two-bedrooms that rent for $1,500 per month. Vacancy is 10% of total income. What is the effective gross income?
Given,
Total units = 120
One bedrooms = 60% of 120 = 72
Two-bedrooms = 40% of 120 = 48
Total monthly income = 72*1000+48*1500 = $144000
Vacancy is 10% of total income
So, effective gross income = $144000*0.9*12 = $1555200
Assume an apartment building contains 120 units. 60% are one-bedrooms that rent for $1000/month and 40%...
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