NCE National Council of Exchangors
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National Council of Exchangors
CONTROL: Owner VALUE: $355,000
    LOAN: $320,000
    EQUITY: $35,000
TITLE: VA BUYER SPECIAL: FOURPLEX IN FOUNTAIN, CO
TYPE OF PROPERTY: Multi-Family
HAVE: Small fourplex of studio apartments right by the railroad track in Fountain, CO. Perfect for the VA owner occupied Buyer. Stucco exterior, plenty of parking. Kitchens and baths have been updated. Can be delivered f/c or with any amount of debt.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Fountain, CO COUNTY: El Paso
BENEFITS TO NEW OWNER: Entry level income property. Least expensive 4plex on the MLS. Path to cash or hold for income. Seller finance the whole thing or take it free and clear.
GROSS SCHEDULED INCOME: $33,360    Projected
VACANCY LOSS: $3,336
GROSS EFFECTIVE INCOME: $30,024
EXPENSES: $6,300
NOI: $23,724
DEBT SERVICE: $38,400
CASH FLOW: $-14,676
CAP RATE: 6.68%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $320,000 $3,200 12.00% 2020 N
LOAN 2:      
BENEFITS SOUGHT: Move or payoff the investor debt. Would like to take something small for some equity or deliver free and clear and take debt with me to the next project.
CAN ADD: 3 duplexes, 8 cabins on 4 acres, 28 unit apartment complex, notes, MHP in IL, Commercial buildings in Shelbyville, IN, cash, land, land, land.
REMARKS: Looking for opportunity or debt relief, to satisfy the investor and reap some benefits. I will carry my equity as a movable Note, subject to the debt with your commission as the down. I just bought this and am flexible, looking for quick profit.
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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