Important note. 2024 Income/Expenses is based on an estimate for the year. Total income and cap rate are based on proforma.The property has potential space for future development of more units. Given the significant changes in the market following the end of the eviction moratorium in 2023, the financial data from that year is no longer indicative of the property’s current situation.Since then, we have successfully addressed nonpayment issues and fully occupied the property. To provide a more accurate forecast, I recommend utilizing a T-3 statement from the past months rather than relying on the 12-month statement from 2023. Based on this T-3, and accounting for a 5% vacancy rate, we project a Net Operating Income (NOI) of $131,361, resulting in a cap rate of 6.94%.It’s also import