NCE National Council of Exchangors
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National Council of Exchangors

 


CONTROL: Exclusive VALUE: $1,349,000
    LOAN: $400,000
    EQUITY: $949,000
TITLE: COLORADO SPRINGS CLASS C APARTMENTS
TYPE OF PROPERTY: Multi-Family
HAVE: 26 unit mixed use property, primarily apartments with some marijuana grows, fully leased with new roof but still plenty to do.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Colorado Springs, CO COUNTY: El Paso
BENEFITS TO NEW OWNER: Income, appreciation, depreciation, amortization: you have them all with this value add multifamily.
GROSS SCHEDULED INCOME: $200,400    Actual
VACANCY LOSS: $20,000
GROSS EFFECTIVE INCOME: $180,400
EXPENSES: $85,370
NOI: $95,030
DEBT SERVICE: $0
CASH FLOW: $95,030
CAP RATE: 7.04%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1:      
LOAN 2:      
BENEFITS SOUGHT: A smaller number of higher class units in a good area with upside. Growth of the municipality is important to this client.
CAN ADD: Anything owned or represented by Broker, cash from new loan, nothing else at this time.
REMARKS: Property has a high turnover due to nature of the tenants. Some minor upgrades and increase in rents will alleviate the problem. Needs some money put into it to increase yield. Local management can stay or go.
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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