NCE National Council of Exchangors
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National Council of Exchangors

 



CONTROL: Exclusive VALUE: $475,000
    LOAN: $80,000
    EQUITY: $395,000
TITLE: MANITOU SPRINGS 4PLEX ON RUXTON AVE
TYPE OF PROPERTY: Multi-Family
HAVE: Fully leased Fourplex of 2 bedroom units in a prime rental location in very desirable Manitou Springs. Lots of deferred maintenance, but always full. Price is 'as is'.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Manitou Springs, CO COUNTY: El Paso
BENEFITS TO NEW OWNER: Fully leased property that can be run 'as is' for many more years, or can add value through maintenance and upkeep, in an area of extreme rental demand. Very close to Manitou Incline and Barr Trail: a hiker's dream right in town.
GROSS SCHEDULED INCOME: $50,340    Actual
VACANCY LOSS: $5,034
GROSS EFFECTIVE INCOME: $45,306
EXPENSES: $15,102
NOI: $30,204
DEBT SERVICE: $0
CASH FLOW: $30,204
CAP RATE: 6.36%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1:      
LOAN 2:      
BENEFITS SOUGHT: Cash out to payoff loan and another property loan.
CAN ADD: The satisfaction of helping a recent widow get this behind her.
REMARKS: Recent widow has an adjusted basis and wants to clear debts. Anything beyond that might allow some creativity. Not looking for other property but might take land in eastern El Paso County. Wants a path to cash but can keep a small residual investment.
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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