* 13. Jhulio is evaluating the purchase of a 2,000 square foot, 5-unit apartment building in the Bronx. A broker just advised him that a nearby building was sold for $800 per square foot, implying a 5% cap rate. Using the Sales Comp Approach, what is the estimated value of the building? O $1,600,000 O $16,000,000 O $160,000 O $60,000

* 13. Jhulio is evaluating the purchase of a 2,000 square foot, 5-unit apartment building in the Bronx. A broker just advised him that a nearby building was sold for $800 per square foot, implying a 5% cap rate. Using the Sales Comp Approach, what is the estimated value of the building? O $1,600,000 O $16,000,000 O $160,000 O $60,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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