NCE National Council of Exchangors
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National Council of Exchangors

 

CONTROL: Exclusive VALUE: $3,000,000
    LOAN: $0
    EQUITY: $3,000,000
TITLE: COLORADO SPRINGS MULTIFAMILY LAND
TYPE OF PROPERTY: Land
HAVE: 19.66 acres of land zoned R5 (High Density Multi-family) on the western edge of Colorado Springs. Currently has 2 houses, 2 garages and sheds. Across from open space, views of Garden of the Gods.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Colorado Springs, CO COUNTY:
BENEFITS TO NEW OWNER: Free and clear High density apartment ground in Colorado Springs where vacancy rates are near zero. Across the street from open space, nothing else like it! Flexible owner. Will carry some. Takeout buyer in place for finished apartments.
GROSS SCHEDULED INCOME: $19,200    Actual
VACANCY LOSS: $0
GROSS EFFECTIVE INCOME: $19,200
EXPENSES: $2,500
NOI: $16,700
DEBT SERVICE: $0
CASH FLOW: $16,700
CAP RATE: 0.56%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1:      
LOAN 2:      
BENEFITS SOUGHT: More liquidity for retirement. Activation of this equity. Really just wants cash and paper.
CAN ADD: $820k in notes, land in Palmer Lake, cash
REMARKS: 91 year old owner ready to activate her equity. Will look at JV or transfer of half of the property or trade up or down with Broker. Really just wants cash and paper when it is all done.
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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