Michigan Villa Apartments (Sold)

Cash Basis For the Twelve Months Ended December 31, 2012

REVENUE

Rents                                   $ 87,852

Laundry                              $ 2,213

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Total                                  $ 90,065

*EXPENSES

Insurance                            $ 2,564

Management Fees               $4,683

Office                                  $ 1,379

Repairs & Maintenance       $ 9,544

Property Taxes                  $1,933

Utilities                              $ 15,122

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Total   Expenses               $  35,225

NET INCOME                $  54,840

Improvements include: Parking Lot upgrades, New Stucco on Facade, Interior common areas and Exterior Painting and Common Area re-carpeted.