NCE National Council of Exchangors
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National Council of Exchangors
CONTROL: Owner VALUE: $420,000
    LOAN: $90,000
    EQUITY: $330,000
TITLE: 21 SUBDIVISION LOTS IN CORTEZ COLORADO
TYPE OF PROPERTY: Land
HAVE: 21 platted lots in nice subdivision facing Mesa Verde in the Southwest corner of Colorado. Sewer in street. Many houses and gatehouse in place. Southern Bluffs Subdivision. 12 lots are free and clear of debt.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Cortez, CO COUNTY: Montezuma
BENEFITS TO NEW OWNER: Finish lots and build for profit, land bank, leverage to activate equity in the meantime. Can all be free and clear. Well located with views and walking distance to the new High School and Walmart.
GROSS SCHEDULED INCOME: $0    Actual
VACANCY LOSS: $0
GROSS EFFECTIVE INCOME: $0
EXPENSES: $315
NOI: $-315
DEBT SERVICE: $5,400
CASH FLOW: $-5,715
CAP RATE: 0.00%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $50,000 $250 6.00% 2018 N
LOAN 2: $40,000 $200 6.00% 2019 N
BENEFITS SOUGHT: Move these, or notes against these into my next deal.
CAN ADD: bar in Idaho, more land, paper, cash, single family home(s) in Colorado Springs
REMARKS: I am a Buyer with these lots or paper on these lots. I like these fine. One day a builder will show up and pay cash. Really nice subdivision with great views.
COUNSELOR: Blake Allen, EMS
Allen Realty
108 Canon ave
Manitou Springs, CO 80829
Phone: (719) 685-0707
Cell: (719) 684-4123
Fax: (719) 685-0400
blakeallenrealty@gmail.com
 
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