Main street apartments has 4 apartments rented at $1075/month.Laundry income of $5370 per year and 11 storage lockers rented at

Question:

Main street apartments has 4 apartments rented at $1075/month.Laundry income of $5370 per year and 11 storage lockers rented at $30 per month. The vacancy rate is 1.6%.

What is the effective gross income used in calculating NOI for this property?

Expert Answer:

Answer rating: 100% (QA)

SOLUTION To calculate the effective gross income EGI for Main Street Apartments we need to add

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