Real Estate Math
An investor buys a 6-unit apartment building in Providence for $720,000. Each unit rents for $1,200/month. What is the annual gross rent multiplier (GRM)?
A50
B83.3
C100✓ Correct
D120
Explanation
Annual gross rent: 6 units × $1,200 × 12 = $86,400. GRM = $720,000 ÷ $86,400 = 8.
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