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Suppose an investor purchases a $1,200,000 apartment complex with a $300,000 down payment. Each month, the cash flow from rentals, less expenses, is $5,000. Over the course of a year, the before-tax income would be $5,000 × 12 = $60,000, so the NOI (Net Operating Income)-on-cash return would be
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The auditor conducts a profound analysis to establish relationships between the association's income statement and balance sheet. The previous year's results are compared with the current results. Since it is impossible to cover all of an HOA's transactions in an audit, a CPA selects a sample of transactions and scrutinizes details.
Apartment buildings and multiple-family housing make up a more significant share of the housing stock in the New York City area than in most other U.S. cities as over 75% of apartment buildings in NYC are co-ops. Reasons suggested to explain why cooperatives are relatively more common than condominiums in the New York City area are: [38]
According to the books "Leimert Park (Images of America)" and "Los Angeles Residential Architecture", Leimert Park was established with the following boundaries: Martin Luther King Jr. Blvd. (formerly Santa Barbara Avenue) on the north, Arlington on the east, Vernon to the south and Crenshaw Boulevard (formerly Angeles Mesa Drive) on the west.
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