NCE National Council of Exchangors
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National Council of Exchangors
CONTROL: Owner VALUE: $2,999,999
    LOAN: $1,800,000
    EQUITY: $1,199,999
TITLE: 28 UNITS ON THE WEST SIDE OF COLORADO SPRINGS
TYPE OF PROPERTY: Multi-Family
HAVE: Complex consisting of seven ground level brick fourplexes at 30th and Bijou on the West side of Colorado Springs, near shopping, buslines, jobs, Garden of the Gods, and Manitou Springs
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Colorado Springs, CO COUNTY: El Paso
BENEFITS TO NEW OWNER: Income, appreciation, depreciation, amortization in one of the best locations on the Front Range. Tenants and management in place.
GROSS SCHEDULED INCOME: $272,700    Projected
VACANCY LOSS: $9,780
GROSS EFFECTIVE INCOME: $262,920
EXPENSES: $68,175
NOI: $194,745
DEBT SERVICE: $144,504
CASH FLOW: $50,241
CAP RATE: 6.49%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $1,084,000 $8,792 4.50% 2026 N
LOAN 2: $650,000 $3,250 6.00% 2022 N
BENEFITS SOUGHT: I am seeking a path to $750,000 cash to pay off a residence.
CAN ADD: duplexes and 4plexes in Colorado Springs, Commercial buildings in IN, IL MHP, paper, lots of land, cash for the right deal.
REMARKS: I am happy with this leasehold. I will continue ownership if I can get the benefits sought. I will go up or down so long as the path to cash is part of the deal. Could use $5MM cash and can provide adequate collateral to deliver paper.
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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