TITLE:
FOUNTAIN, CO 4-PLEX
CONTROL:
Owner
VALUE:
$500,000
LOAN:
$203,000
EQUITY:
$297,000
TYPE:
Multi-Family
HAVE:
Fourplex of studio units in Fountain. Rents are $895 plus utilities and they always stay full. Very low expenses.
ADDRESS:
238 W. Iowa st, Fountain, Colorado
BENEFITS TO NEW OWNER:
Easy to lease fourplex. Easy income with little historic vacancy. No deferred maintenance, just mailbox money. Can be absolute NNN with an option.
GROSS SCHEDULED INCOME:
$42,960 Actual
VACANCY LOSS:
$1,800
GROSS EFFECTIVE INCOME:
$41,160
EXPENSES:
$12,329
NOI:
$28,831
DEBT SERVICE:
$16,620
CASH FLOW:
$12,211
CAP RATE:
5.77%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$203,000
$1,790
7%
12/31/1969
No
BENEFITS SOUGHT:
Some cash in the transaction, can be from a new loan.
CAN ADD:
Paper, income properties, cash for the right deal.
REMARKS:
I did a sale/leaseback/buyback deal with a client and we are looking for further opportunity with this equity. We will deliver fee simple or with a lease back, buy back agreement.
COUNSELOR:
Blake Allen
Allen Realty
108 Canon Ave
Manitou Springs, Colorado, 80829
