Copyright © 2014. R. Mike Mullin, CPA, CGA. All rights reserved.

​​Focusing on modular/mobile home parks, residential rental properties, apartment buildings and investment real estate on Vancouver Island,

from Ladysmith to Campbell River including Nanaimo, Courtenay, Comox, Comox Valley, Campbell River and Port Alberni ​

R. Mike Mullin, CPA, CGA - Licenced Commercial Realtor® - throughout BC
​Commercial Properties, Investment Properties, ICI Properties, Distressed Properties
Homes with Suites, 3 Plexes, 4 Plexes, Residential Apartment Buildings, Modular/Mobile Home Parks, Foreclosed Properties

Serving Ladysmith to Campbell River including Nanaimo, Courtenay, Comox, Campbell River and Port Alberni

Direct Line: 1-250-650-6560

E-Mail: mullin@telus.net

Personal Real Estate Corporation, Branch Manager

Commercial & Investment Realtor® Serving Ladysmith, Nanaimo, Comox Valley, Campbell River & Port Alberni 

Pemberton Holmes Ltd. 535 - 6th Street, Courtenay, B.C. V9N 1M5

R. Mike Mullin, CPA, CGA  The Small Investor's Best Friend!!!  

Please Complete & Submit to

Receive My Periodic E-mails

Potential Gross Income Multiplier = Market Value/Potential Gross Income


Effective Gross Income Multiplier  = Market Value/Effective Gross Income

​Net Income Multiplier = Market Value/Net Operating Income (NOI)

Cap Rate = Net Operating Income (NOI)/Market Value (Please refer to specific page)

​​As the following calculations are beyond the scope of this brief introduction, please contact Mike or your financial expert to get more information.

Net Present Value Calculation (Discounted Cash Flow)
Internal Rate of Return (IRR)
​Blended Internal Rate of Return (Blended IRR)

Financial Comparisons for All Investment Properties​

Residential Rental Buildings Calculations​


Price per Suite (per Door) = Market Value/Number of Rental Suites

Price per Room = Market Value/Total Number of Rooms in Rental Suites
As rents normally reflect the number of residential rooms in a building, this calculation is more accurate than the Price per Suite calculation.  A bachelor suite is considered to have 2.5 rooms. ​Further, for suites with separate bedrooms/other rooms, the number of bedrooms/other rooms are added to the basic 2.5 rooms.

​Price per Square Foot =  Market Value/Total Square Footage of Rental Suites

Rents per Square Foot = Total Rents/Total Square Footage of Rental Suites

Operating Costs per Suite per Year = Total Annual Operating Costs / Number of Suites

Operating Cost per Square Foot per Year = Total Annual Operating Costs / Total Square Feet of All Suites​

​Operating Expense Ratio (OER) = Operating Expenses/Effective Gross Income

​​Comparing Commercial & Investment Real Estate



Accurate financial projections are important whether you want to invest in commercial real estate in a smaller community like Port Hardy, Campbell River or Courtenay and the Comox Valley or larger Vancouver Island communities like Nanaimo or Victoria.  Success with commercial investment properties depends on having an accurate picture of the financial potential of any commercial real estate investment.


Mike is a Certified General Accountant and brings an extensive financial background to the analysis of commercial real estate investment potential.  And when you are ready to buy or sell commercial real estate, Mike will use his CGA know-how to negotiate a fair and profitable agreement with your buyer, seller and/or commercial lender.

Periodic E-Mail Notices

If you would like to receive my periodic e-mails of notable multi-family rental & investment properties, (usually 4 - 6 per year), please provide your e-mail address here.  Please note that many are not  my own  listings, but other realtors® interesting listings that I believe are a great value and would like to assist you as your Buyer's Agent.​