TITLE:
DISCOUNT SALE/LEASEBACK/BUYBACK ON 7 UNITS IN MANITOU SPRINGS
CONTROL:
Owner
VALUE:
$1,500,000
LOAN:
$0
EQUITY:
$1,500,000
TYPE:
Multi-Family
HAVE:
"Banana Manor": Iconic property in the center of town consisting of a triplex and a 4plex. Value is about $1,600,000
ADDRESS:
1013-1019 Manitou ave and 107 Waltham ave, Manitou Springs, Colorado
BENEFITS TO NEW OWNER:
Income: 6% absolute NNN,residential depreciation, 2% fixed, guaranteed appreciation, good security in very high demand area. Seller Carry financing also available to accommodate a 1031 exchange.
GROSS SCHEDULED INCOME:
$90,000 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$90,000
EXPENSES:
$0
NOI:
$90,000
DEBT SERVICE:
$0
CASH FLOW:
$90,000
CAP RATE:
6.00%
BENEFITS SOUGHT:
Sale/leaseback to lower payments and increase basis on the buyback. This is a property I intend to keep for a very long time.
CAN ADD:
More sale/leasebacks and fee simple income properties, lots of land, notes, cash for the right deal.
REMARKS:
I can be a buyer or a Seller here, so long as I get the right to re-purchase at fixed terms acceptable to me. This is ideal for 1031 money as we have flexibility with the financing. Will take paper or other property as part of the deal.
COUNSELOR:
Blake Allen
Allen Realty
108 Canon Ave
Manitou Springs, Colorado, 80829
