NCE National Council of Exchangors
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National Council of Exchangors

Cabin 1

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Cabin 1

Cabin 3

Cabin 6

Cabin 2

Cabin 7

Interior Cabin 7

CONTROL: Exclusive VALUE: $850,000
    LOAN: $600,000
    EQUITY: $250,000
TITLE: 7 RUSTIC CABINS ON 4 ACRES WOODLAND PARK CO
TYPE OF PROPERTY: Multi-Family
HAVE: 7 leased cabins, and one shell of a cabin looking right at Pikes Peak. Steep and rustic, in the pines, just like y'all imagine Colorado to look.
WEBSITE ADDRESS: https://ppmls.mlsmatrix.com/matrix/shared/n13WbBM9Rt/1052WHighway24Highway
PARCEL#: 29252000630    
CITY, STATE: Woodland Park, US COUNTY: CO
BENEFITS TO NEW OWNER: Always leased cabins with big upside if upgraded. Strong rental demand next to a Bible College without housing. Can fix up one shell and probably add more. Assumable financing. Can be delivered free and clear.
GROSS SCHEDULED INCOME: $87,660    Projected
VACANCY LOSS: $1,000
GROSS EFFECTIVE INCOME: $86,660
EXPENSES: $29,100
NOI: $57,560
DEBT SERVICE: $36,000
CASH FLOW: $21,560
CAP RATE: 6.77%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $600,000 $3,000 6.00% 2025 N
LOAN 2:      
BENEFITS SOUGHT: Take profit and move to the next deal. I like the property and the upside but I would prefer someone else do the work for the additional profit. I would love to deliver it free and clear and take my debt with me.
CAN ADD: paper secured by income property, lots of land, small income properties, some cash
REMARKS: I like the property and the upside but I would prefer someone else do the work for the additional profit. I would love to deliver it free and clear and take my debt with me
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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