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National Council of Exchangors

TWO CABINS IN MANITOU SPRINGS, CO

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TWO CABINS IN MANITOU SPRINGS, CO

CONTROL: Owner VALUE: $335,000
    LOAN: $250,000
    EQUITY: $85,000
TITLE: TWO CABINS IN MANITOU SPRINGS, CO
TYPE OF PROPERTY: Multi-Family
HAVE: Two freestanding cabins on one lot in Manitou Springs. One is 1 bedroom and the other is a studio. Both recently remodeled and leased. A few doors down from Manitou Ave, but a very quiet neighborhood. High demand area.
WEBSITE ADDRESS: https://www.youtube.com/watch?v=nHobJPV3O4k
PARCEL#:    
CITY, STATE: Manitou Springs, US COUNTY: Colorado
BENEFITS TO NEW OWNER: Clean rental asset in high demand rental market; Live in one home and rent the other; Flexible seller.
GROSS SCHEDULED INCOME: $23,940    Actual
VACANCY LOSS: $1,436
GROSS EFFECTIVE INCOME: $22,504
EXPENSES: $6,583
NOI: $15,921
DEBT SERVICE: $30,000
CASH FLOW: $-14,079
CAP RATE: 4.75%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1:      
LOAN 2:      
BENEFITS SOUGHT: Activate equity. Will sell; or trade up or down.
CAN ADD: Nothing in partnership, but anything in Blake Allen's inventory could be added.
REMARKS: Will trade up or down. Will use as a down payment to purchase a larger income property. See moderated presentation of the property with this link:https://www.youtube.com/watch?v=nHobJPV3O4k
COUNSELOR: Blake Allen, EMS, CCIM
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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