NCE National Council of Exchangors
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National Council of Exchangors
CONTROL: Exclusive VALUE: $547,000
    LOAN: $197,942
    EQUITY: $349,058
TITLE: TURNKEY SHORT TERM RENTAL IN MANITOU SPRINGS
TYPE OF PROPERTY: Hotel/Motel
HAVE: Turnkey fully furnished short term rental. Operates as a duplex during the winter and daily rental during the summer. Great location in very sought after small town, offstreet parking and walk to all attractions.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Manitou Springs, CO COUNTY: El Paso
BENEFITS TO NEW OWNER: Mailbox income from rental operations and a place to stay occasionally. Can be totally passive or DIY. Very strong demand and appreciation in this market.
GROSS SCHEDULED INCOME: $100,000    Actual
VACANCY LOSS: $10,000
GROSS EFFECTIVE INCOME: $90,000
EXPENSES: $30,000
NOI: $60,000
DEBT SERVICE: $18,516
CASH FLOW: $41,484
CAP RATE: 10.97%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $168,441 $1,526 4.00% 2035 N
LOAN 2: $29,510 $204 6.90% 2041 N
BENEFITS SOUGHT: This is really a 'for sale' package. Seeking cash to complete a reverse 1031, but they might look at other property as well.
CAN ADD: Anything owned or represented by Broker.
REMARKS: Loan values are approximate. Partners are splitting in the process, so two small things might work as a vehicle. Make us an offer and see what they say! This is very desirable property in a very strong town.
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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