{"text_format":"2","workbook":"xlsx","n_sheets":1,"sheets":["NEW BUYER"],"not_rendered":{"charts":0,"images":1,"macros":0,"external_links":0,"defined_names":0,"comments":0,"pivot_tables":0},"unopened":[],"bounds":{"document_bytes":16777216,"sheet_cells":100000,"run_cost":"one","rows_first":2000,"rows_last":500,"rows_between":2000,"halvings":0,"cell_chars":16384,"cell_head_chars":4096},"cells_cut":0,"cells_raw":0,"read":"whole","date_system":"1900"}

{"sheet":"NEW BUYER","index":0,"n_rows":64,"n_cols":19,"rows_kept":64,"cut":false,"hidden":false,"merged":[[56,1,56,8],[57,1,57,8],[58,1,62,8],[0,1,2,8],[3,1,3,8],[6,2,6,4],[12,3,12,4],[38,1,38,5],[55,1,55,8],[5,2,5,4],[8,1,9,1],[8,7,9,7],[7,5,7,6],[5,5,5,6]]}
[]
[]
[{"$nulls":11},"RENT ROLL","Unit Type","Unit Mix","Unit SF","Rent","Rent Per SF","Floor","Notes"]
[{"$nulls":11},101,"A","0/1.00",395,2095,5.3,1,"Patio"]
[null,"# Units",null,"Address",null,"City",null,"Zip","APN",null,null,102,"B","0/1.00",392,2095,5.34,1,"No patio, large bathroom. AFFORDABLE @ 110% AMI"]
[null,20,"4721 Felton St",null,null,"San Diego",null,92116,null,null,null,103,"C","1/1.00",583,2600,4.46,1,"No patio"]
[{"$nulls":11},104,"G","0/1.00",441,1737,4.9800000000000004,1,"No patio. AFFORDABLE @ 60% AMI"]
[null,"Price","Cap Ex/Basis","GRM",null,"CAP Rate",null,"$ / Unit",null,null,null,201,"D","2/2.00",838,3250,3.88,2,"Patio"]
[null,8500000,0,"Current","Market","Current","Market",{"$f":"B9/B6","v":425000},null,null,null,202,"E","1/1.00",488,2495,5.1100000000000003,2,"Patio, AFFORDABLE @ 110% AMI"]
[null,null,{"$f":"B9+C9","v":8500000},{"$f":"B9/E41","v":13.388272503323442},{"$f":"C10/F41","v":12.769987584567366},{"$f":"E45/B9","v":4.8161553647058826E-2},{"$f":"F45/C10","v":5.1494044564705875E-2},{"$nulls":4},203,"E","1/1.00",488,2495,5.1100000000000003,2,"Patio, AFFORDABLE @ 110% AMI"]
[null,"Price","Avg ","Gross Sq. Ft.",null,"Parcel Size",{"$nulls":5},204,"E1","1/1.00",474,2450,5.17,2,"Patio, AFFORDABLE @ 110% AMI"]
[null,"Per SF","Unit SF","(Approx.)",null,"(Approx.)","Parking","Yr. Built",null,null,null,205,"J","1/1.00",516,2550,4.9400000000000004,2,"Patio"]
[null,{"$f":"B9/D13","v":656.57345898346978},{"$f":"D13/B6","v":647.29999999999995},12946,null,6744,5,2027,null,null,null,206,"F","1/1.00",455,1860,5.26,2,"No patio, AFFODABLE @ 60% AMI"]
[null," ","Income Detail",null,null,null,"Annual Operating Expenses",{"$nulls":4},301,"D","2/2.00",838,3300,3.94,3,"Patio"]
[null,"# of Units","Type","Rent","Total",null,"(Estimated)",{"$nulls":4},302,"E","1/1.00",488,2545,5.22,3,"Patio"]
[null,"Current Income",null,null,null,"Esti. Expenses",null,"Prop Mgmt",{"$f":"E43*0.05","v":30791.874},null,null,303,"E","1/1.00",488,2545,5.22,3,"Patio"]
[null,3,"Studio","$2095 - $2195",{"$f":"P4+P5+P7","v":5927},"Utilities",1500,"Payroll/Fees",{"$f":"800*12","v":9600},null,null,304,"E1","1/1.00",474,2500,5.27,3,"Patio"]
[null,14,"1BR 1BA","$2395 - $2875",{"$f":"P6+P9+P10+P11+P12+P13+P15+P16+P17+P18+P20+P21+P22+P23","v":35430},"Water/Sewer",{"$f":"70*12*B6","v":16800},"Insurance",{"$f":"600*B6","v":12000},null,null,305,"H","1/1.00",633,2850,4.5,3,"Large deck"]
[null,3,"2BR 2BA","$3300 - $3325",{"$f":"P8+P14+P19","v":9875},"Contracted",2400,"License/Fees",null,null,null,401,"D","2/2.00",838,3325,3.97,4,"Patio"]
[{"$nulls":5},"Trash ",8000,"Pool",null,null,null,402,"E","1/1.00",488,2570,5.27,4,"Patio"]
[{"$nulls":5},"Pest Control",0,"Misc/Reserves",{"$f":"250*B6","v":5000},null,null,403,"E","1/1.00",488,2570,5.27,4,"Patio"]
[{"$nulls":5},"Maintenance ",{"$f":"700*B6","v":14000},"Taxes*",{"$f":"B9*0.0125144","v":106372.40000000001},null,null,404,"E1","1/1.00",474,2525,5.33,4,"Patio, AFFORDABLE @ 110% AMI"]
[{"$nulls":5},"Total Annual Expenses",null,{"$f":"SUM(G16:G22)+SUM(I16:I22)","v":206464.274},null,null,null,405,"H","1/1.00",633,2875,4.54,4,"Patio"]
[null,5,"Parking",75,{"$f":"D24*B24","v":375},"Expenses per:","Est. Sq. Ft.",{"$f":"H23/D13","v":15.948113239610691},null,null,null,"Total",20,null,null,{"$f":"SUM(P4:P23)","v":51232}]
[null,20,"RUBS",65,{"$f":"D25*B25","v":1300},null,"Unit",{"$f":"H23/B6","v":10323.2137}]
[null,"Total Monthly Income",null,null,{"$f":"SUM(E17:E25)","v":52907},null,"% of GSI",{"$f":"H23/E41","v":0.32519999558974555}]
[{"$nulls":11},"Construction Breakdown"]
[null,"Market Income (5% Increase)",{"$nulls":4},"Market Expenses",{"$nulls":4},"Property Price",1595000]
[null,3,"Studio",{"$f":"E29/B29","v":2074.4500000000003},{"$f":"E17*1.05","v":6223.35},"Esti. Expenses",{"$f":"G16","v":0},"Prop Mgmt",{"$f":"F43*0.05","v":32282.725200000001},null,null,"Hard Costs (Wermer Bid)",3632184]
[null,14,"1BR 1BA",{"$f":"E30/B30","v":2657.25},{"$f":"E18*1.05","v":37201.5},"Utilities",{"$f":"G17","v":1500},"OnSite Mgmt",{"$f":"I17","v":9600},null,null,"Contingengy (5%)",{"$f":"M29*0.05","v":181609.2}]
[null,3,"2BR 2BA",3456.25,{"$f":"E19*1.05","v":10368.75},"Water/Sewer",16800,"Insurance",12000,null,null,"Water Sewer Fees",89000]
[{"$nulls":5},"Contracted ",2400,"License/Fees",0,null,null,"School Fees",67000]
[{"$nulls":5},"Trash ",8000,"Pool",0,null,null,"Total Project Costs",{"$f":"SUM(M28:M32)","v":5564793.2000000002}]
[{"$nulls":5},"Pest Control",0,"Misc/Reserves",5000]
[null,5,"Parking",75,{"$f":"D35*B35","v":375},"Maintenance ",14000,"Taxes*",106372.40000000001,null,null,"Initial Profit Margin",{"$f":"B9-M33","v":2935206.8}]
[null,20,"RUBS",65,{"$f":"D36*B36","v":1300},"Total Annual Expenses",null,{"$f":"SUM(G29:G35)+SUM(I29:I35)","v":207955.12520000001}]
[null,"Total Monthly Income",null,null,{"$f":"SUM(E29:E36)","v":55468.6},null,"% of GSI",{"$f":"H36/F41","v":0.3124216902295473},null,null,null,"Loan Sizer"]
[{"$nulls":11},"New Value Cap",0.7]
[null,"Annual Operating Proforma",{"$nulls":4},"Financing Summary",{"$nulls":4},"Capped Loan",{"$f":"M38*B9","v":5950000}]
[{"$nulls":4},"Current","Market",{"$nulls":5},"LTC % Cap",0.8]
[null,"Gross Scheduled Income",null,null,{"$f":"E26*12","v":634884},{"$f":"E37*12","v":665623.19999999995},"Down Payment",null,{"$f":"I42*B9","v":3400000},null,null,"Capped Loan",{"$f":"M40*(M33+350000)","v":4731834.5600000005}]
[null,"Less:  Vacancy Factor",null,0.03,{"$f":"E41*D42","v":19046.52},{"$f":"F41*D42","v":19968.695999999996},null,null,0.4,null,null,"Projected Loan",{"$f":"M41","v":4731834.5600000005}]
[null,"Gross Operating Income",null,null,{"$f":"E41-E42","v":615837.48},{"$f":"F41-F42","v":645654.50399999996},{"$nulls":5},"Cost (1.5 points)",{"$f":"M42*0.0125","v":59147.932000000008}]
[null,"Less:  Expenses ",null,{"$f":"H26","v":0.32519999558974555},{"$f":"H23","v":206464.274},{"$f":"H36","v":207955.12520000001},{"$f":"F44/F41","v":0.3124216902295473},null,"   ",null,null,"Rate",9.9500000000000005E-2]
[null,"Net Operating Income",null,null,{"$f":"E43-E44","v":409373.20600000001},{"$f":"F43-F44","v":437699.37879999995},"Proposed Financing: (I/O)",null,{"$f":"B9-I41","v":5100000},null,null,"Annual Mortgage",{"$f":"M42*M44","v":470817.53872000007}]
[{"$nulls":6},"Interest Rate:",null,6.25E-2,null,null,"Draw Rate",0.65]
[null,"Less:  1st TD Payments",null,null,{"$f":"-I45*I46","v":-318750},{"$f":"E47","v":-318750},"Amortized over:",null,0,null,null,"Drawn Interest",{"$f":"M45*M46","v":306031.40016800008}]
[null," ",null,null,null," "]
[{"$nulls":6},"Debt Coverage Ratio:",{"$nulls":4},"Project Costs Summary"]
[null,"Pre-Tax Cash Flow",null,null,{"$f":"E45+E47","v":90623.206000000006},{"$f":"F45+F47","v":118949.37879999995},"Current:",null,{"$f":"E45/E47*-1","v":1.2843080972549019},null,null,"Total Project Cost",{"$f":"M33","v":5564793.2000000002}]
[{"$nulls":6},"Market:",null,{"$f":"F45/F47*-1","v":1.37317452172549},null,null,"Loan Cost",{"$f":"M43","v":59147.932000000008}]
[null,"Cash On Cash Return",null,null,{"$f":"E50/I41","v":2.6653884117647061E-2},{"$f":"F50/(I41+C9)","v":3.4985111411764691E-2},{"$nulls":5},"Drawn Interest",{"$f":"M47","v":306031.40016800008}]
[{"$nulls":11},"Total Uses of Capital",{"$f":"SUM(M50:M52)","v":5929972.532168}]
[null,"Principal Reduction",null,null,{"$f":"(-E47)-(I45*I46)","v":0},{"$f":"(-F47)-(I45*I46)","v":0}]
[null,"Earned Return",null,null,{"$f":"(E50+E54)/I41","v":2.6653884117647061E-2},{"$f":"(F50+F54)/(I41+C9)","v":3.4985111411764691E-2},{"$nulls":5},"Construction Loan",{"$f":"M42","v":4731834.5600000005}]
[null,"The Browar Group"]
[null,"Florian Sighe | 619.894.3030 | florian@thebrowargroup.com",{"$nulls":9},"Required Project Cash",{"$f":"M53-M55","v":1198137.9721679995}]
[]
[null,"The information contained herein has been obtained from sources believed reliable.  While The Browar Group does not doubt its accuracy, we have not verified it, and make no guarantee, warranty or representation about it.  It is your responsibility to independently confirm its accuracy and completeness.  Any projections, opinions, assumptions, or estimates are used for example only and do not represent the current or future performance of the property.  The value of this transaction to you depends on tax, financial, and legal advisors.  You and your advisors should  conduct a careful, independent, investigation of the property to determine to your satisfaction the suitability of the property to your needs.",{"$nulls":9},"Value When Complete",{"$f":"B9","v":8500000}]
[{"$nulls":11},"Loan Payoff",{"$f":"M42","v":4731834.5600000005}]
[{"$nulls":11},"Equity When Complete",{"$f":"M59-M60","v":3768165.4399999995}]
[]
[{"$nulls":11},"Return On Equity",{"$f":"M61/M57","v":3.1450179591433884}]
[{"$nulls":11},"Project ROI",{"$f":"M61/M57","v":3.1450179591433884}]