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What is the average profit margin per unit on a traditional apartment complex?
I'm looking to find out what the average profit per month per unit is at a standard apartment complex, I'm trying to figure this out for a discussion with a complex manager about a lease. Thank you for the help.
2 Answers
- DNLv 66 years ago
I have a 2 bedroom, 1.5 remodeled condo two blocks from a university campus. I lease it for $850 a month and that is the average rent in the building and area. I pay and budget $400.00 in expense a month (property tax, insurance, electricity, HOA fees that covers building maintenance, water, and gas). I make $450.00 a month but I budget $200.00 for possible repair and future renovations... so I make about $250.00 a month. My condo's value is risen since I purchased it so I will be making money when I sell it as well. It was a fun and scary experience buying my first income property and I like it a lot. I get a higher return than if I were to leave my money in the bank as well.
- PalLv 76 years ago
Location,location, location. That is what determines profit margin. There is no average unless you know where it is .