NCE National Council of Exchangors
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National Council of Exchangors

1138

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1138

1137

CONTROL: Owner VALUE: $1,025,000
    LOAN: $631,000
    EQUITY: $394,000
TITLE: THREE DUPLEXES IN COLORADO SPRINGS
TYPE OF PROPERTY: Multi-Family
HAVE: Three fully leased duplexes on the south side of Colorado Springs, near Ft. Carson. Management in place.
WEBSITE ADDRESS:
PARCEL#:    
CITY, STATE: Colorado Springs, CO COUNTY: El Paso
BENEFITS TO NEW OWNER: Income, appreciation, residential depreciation, fully leased with management in place, can be NNN, very strong market. Discount sale/leaseback possible at lower price. Can be delivered f/c or with any amount of debt.
GROSS SCHEDULED INCOME: $77,620    Actual
VACANCY LOSS: $995
GROSS EFFECTIVE INCOME: $76,625
EXPENSES: $13,900
NOI: $62,725
DEBT SERVICE: $75,600
CASH FLOW: $-12,875
CAP RATE: 6.12%
ENCUMBRANCES: BALANCE: PAYMENT: RATE: DUE: ASSUMABLE:
LOAN 1: $336,000 $3,360 12.00% 2023 Y
LOAN 2: $295,000 $2,950 12.00% 2023 Y
BENEFITS SOUGHT: To activate this equity: to sell or trade. Sale/leaseback/buyback would be the first choice: 6% NNN with 2% annual appreciation for 2-10 years.
CAN ADD: Another duplex nearby, mixed use gaming property in Cripple Creek, houses in Illinois, land coast to coast, Notes, more sale/leaseback deals
REMARKS: I am the owner of these duplexes and happy with them, but I would like more return on my equity. Prefer sale to refinance if I want the cash out--which is why a NNN lease/option is the first choice. I believe in the market.
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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