TITLE:
Fully Entitled Multi-Family Class A
CONTROL:
Owner
VALUE:
$995,000
LOAN:
$450,000
EQUITY:
$545,000
TYPE:
Multi-Family
HAVE:
Fully Entitled Multi-Family Project overlooking Interstate 25 in the heart of Colorado Springs. 18 Class A units along creek and public hiking trail. 3-4 Minutes north of CBD. 1.5 miles from University of Colorado, Colo Spgs.
ADDRESS:
770 Vondelpark Drive, Colorado Springs, Colorado
BENEFITS TO NEW OWNER:
Great Infill Project in a very convenient location.
GROSS SCHEDULED INCOME:
$515,000 Projected
VACANCY LOSS:
$25,000
GROSS EFFECTIVE INCOME:
$490,000
EXPENSES:
$132,000
NOI:
$358,000
DEBT SERVICE:
$0
CASH FLOW:
$358,000
CAP RATE:
35.98%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$450,000
$24,000
8%
12/31/1969
No
BENEFITS SOUGHT:
Out of debt, JV Funding Partner, Builder Partner of Walk Away Sale
CAN ADD:
Experience, Local Participation, Supervision.
REMARKS:
This property belongs to me and my wife. We have simply run out of money and energy as it relates to this project. I still believe in it and think it is a great investment opportunity.
COUNSELOR:
Thomas Powell
Equity Colorado
1465 Kelly Johnson Blvd. Suite 205
Colorado Springs, Colorado, 80920
