Real Estate Math
An Illinois investor purchases a 6-unit apartment building. Each unit rents for $900/month. Annual expenses total $28,800. What is the annual NOI?
A$64,800
B$36,000✓ Correct
C$28,800
D$35,200
Explanation
Annual gross income = 6 units × $900/month × 12 months = $64,800. NOI = Gross Income - Operating Expenses = $64,800 - $28,800 = $36,000.
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